Collapse Spreads - Joe Blogs

[TexasTowelie]

Today we’re discussing the growing global airline crisis and why the collapse of Spirit Airlines may only have been the beginning.

Over the last few weeks we’ve seen oil prices surge above $100 per barrel as a result of the ongoing conflict involving Iran and the continued disruption around the Strait of Hormuz. That spike in energy prices is now causing major problems throughout the aviation industry, with reports suggesting that airlines around the world have already cancelled around 13,000 flights and removed millions of seats from schedules.

In this video we look at:
✈️ Why airlines are suddenly cutting flights globally
✈️ How soaring jet fuel costs are destroying profit margins
✈️ Why even major carriers like Lufthansa and Turkish Airlines are being impacted
✈️ The knock-on effects for tourism, hotels, restaurants and jobs
✈️ Why this could become a much bigger global economic problem
✈️ And whether Spirit Airlines was simply the first domino to fall

This is no longer just an airline story.

Rising oil prices impact transport, manufacturing, logistics, food prices and the cost of almost everything in the global economy. The longer this crisis continues, the greater the economic damage could become.