jet fuel prices

Carriers will spend $100 billion more on jet fuel this year, the trade group predicted.

The carrier said it is adjusting capacity growth in response to higher jet fuel prices.

The carrier posted a net loss of $319 million for the first quarter.

Willie Walsh said Asia and Europe will likely be affected first.

The reductions are expected to save about 40,000 metric tons of jet fuel.

The carrier said it will shut down Lufthansa CityLine and remove some of its less efficient jets from service.

Airlines are scrambling to adjust their summer schedules to stay ahead of price volatility.

The carrier cited higher fuel prices and an “uncertain global environment.”