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Airlines Slash Flights as Jet Fuel Costs Surge, Squeezing Travellers and Markets

  Airlines Slash Flights as Jet Fuel Costs Surge Canadian travellers are facing fewer flight options and higher fares as jet fuel prices spike to multi‑year highs , forcing Air Canada and Air Transat to cut capacity across key routes. The surge in fuel costs is tied directly to the ongoing Iran conflict , which has disrupted global oil flows and pushed energy markets into another period of volatility. Air Transat is reducing service to Europe and the Caribbean, while Air Canada is suspending several regional and international routes it now considers unprofitable. For consumers, this means higher ticket prices, more crowded flights, and fewer choices heading into the summer travel season . Impact on the Economy and Inflation Airlines passing fuel costs to passengers adds fresh pressure to Canada’s already‑stubborn inflation outlook. Travel inflation — which had been easing — is now expected to rise again, complicating the Bank of Canada’s path toward rate cuts. Higher travel costs a...
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Wall Street Seeks First Gains of 2024 in Modest Pre-Market Trading

 

Wall Street is seeking its first gains of 2024, with the benchmark S&P 500 index ticking modestly higher in premarket trading on Thursday. The index has fallen in four of the past five sessions, as investors have grown increasingly cautious about the U.S. central bank’s expected pivot to rate cuts this year and how quickly these might be implemented. While the Fed is widely expected to keep rates on hold in January, traders have priced in a 67% chance of a 25 basis point rate cut in March, as per CMEGroup’s FedWatch tool. The Toronto Stock Exchange’s S&P/TSX composite index ended down 53.56 points, or 0.3%, at 20,818.58 on Wednesday.

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