Amid the Middle East conflict, low-cost airlines like Ryanair and Transavia are facing financial difficulties due to soaring jet fuel prices. The potential closure of the Strait of Hormuz is causing oil supply fears, leading carriers to cancel routes and raise prices.

Ryanair, Transavia, Volotea and other low-cost airlines are feeling the financial pain from high jet fuel prices as a result of the Middle East war and are cutting flights. The closure of the Strait of Hormuz has taken a huge chunk of oil supplies off the market, sending the price of jet fuel soaring and triggering fears of shortages that could force airlines to cancel flights.