FOX Business’ Lauren Simonetti reports on Iranian attacks on cargo ships in the Strait of Hormuz, the impact on oil and and the economy on ‘Varney & Co.’
Lufthansa is cutting roughly 20,000 short-haul flights this summer, citing a spike in jet fuel prices that has rendered many routes “unprofitable” as the global aviation industry grapples with rising costs.
The German carrier said Tuesday the cuts, which will run through October, are expected to save about 40,000 metric tons of jet fuel. The airline noted that fuel prices have roughly doubled since the outbreak of the Iran war.
“In total, 20,000 short-haul flights will be removed from the schedule through October, equivalent to approximately 40,000 metric tons of jet fuel, the price of which has doubled since the outbreak of the…
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