War fallout sends Asia–Europe airfares soaring up to 560%, disrupting summer holiday plans

According to The Financial News, key airfares on routes linking Asia and Europe have surged by as much as 560% since the start of this month, just ahead of the summer vacation season. The spike is already disrupting travel plans for many would-be holidaymakers.
Several foreign media outlets, including Saudi Arabia-based Arab News, reported on the 26th (local time) that airfares have climbed to record levels. Citing analysis by aviation consultancy Alton Aviation Consultancy, they noted that flight operations in the Persian Gulf region, one of the world’s busiest transit hubs, have been severely disrupted by the war.
The analysis found that average round-trip fares on seven key routes between the Asia-Pacific region and Europe this month are up by around 70% compared with the same period last year.
A typical ticket from Sydney, Australia to London, United Kingdom has climbed past an average of $1,500 (about 2.25 million won), roughly double the price a year ago. This elevated level is expected to persist through October, with fares projected to remain about 30% higher than last year, making near-term price cuts unlikely. Routes from Europe to Asia have also become far more expensive, with June fares up as much as 79% year-on-year, and prices on some specific long-haul routes tripling compared with last year.
The current air travel turmoil has intensified since the outbreak of war in the Islamic Republic of Iran. Armed conflict has led to the cancellation of roughly 70,000 flights. Airspace closures, reduced passenger-handling capacity at airports across the Persian Gulf region, and a sharp jump in fuel costs driven by tighter controls on energy shipments through the Strait of Hormuz have all combined to push fares higher.
As instability drags on, bookings are already falling. Reservations on routes from Europe to the United States are down 15% from a year earlier, while bookings on Asia–Europe routes originating in Asia have dropped 4.4%. Bryan Terry, managing director at Alton Aviation Consultancy, warned, "Even if the war ends soon, it could take up to three months for prices to come down," adding, "High fares are likely to persist for quite some time due to longer detour routes and limited capacity."
By route, services connecting Asia and Europe that heavily rely on stopovers in the Middle East have been hit hardest. As of the 23rd, an economy ticket from Hong Kong to London Heathrow Airport had jumped 560% from the previous month to $3,318 (about 4.99 million won). Fares from Bangkok, Thailand to Frankfurt am Main, Germany were up 505%, while tickets from Sydney, Australia to London, United Kingdom had risen 429%.


hsg@fnnews.com Han Seung-gon Reporter