Aviation was flying high. Then the war in Iran changed everything | CNA Correspondent

The numbers going into 2026 were some of the best in aviation history. Then, US and Israeli strikes on Iran led to the closure of the Strait of Hormuz, choking off a fifth of the world's oil supplies. Carriers saw jet fuel prices surge by more than 120% and braced for supply shortages, cancelling thousands of flights and raising airfares. Some budget airlines have already shut down, and others could follow.

The aviation industry's annual gathering in Rio was supposed to celebrate record profits and chart a greener future. Arnold Gay speaks with Yasmin Jonkers to find out who will survive, who pays for cleaner skies and what kind of world we are flying into.

01:39 Crisis or temporary challenge?
02:55 Opportunity from Gulf disruption
04:08 Why fares remain affordable
05:00 Where ticket prices are rising
06:30 Can passengers absorb fare hikes?
07:17 Which airlines are most exposed?
08:49 Aircraft shortages and airspace challenges
11:39 Has sustainability taken a back seat?
12:53 Will flying become a luxury?
15:28 Why young Japanese travel less

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