Kate Duffy

(Bloomberg) -- British Airways parent IAG SA said the fuel-cost surge stemming from the Iran conflict has created an opportunity to snap up struggling

The Iran war has squeezed global supplies of jet fuel, threatening to upend vacation plans as the peak summer travel season approaches in the Northern Hemisphere.

The Iran war has squeezed global supply of jet fuel, threatening to upend vacation plans as the peak summer travel season approaches in the Northern Hemisphere.

Norse Atlantic ASA has brought on JPMorgan Chase & Co. to run a sale process set to kick off in the coming months, people familiar with the matter said, as the Norwegian budget airline struggles with high costs and dwindling cash reserves.

Ryanair Holdings Plc warned of rising costs this year if unhedged jet fuel prices remain at current levels, as the budget carrier faces higher bills for fuel, crew and aircraft maintenance.

Ryanair Holdings Plc Chief Executive Officer Michael O’Leary said there will be corporate “casualties” among European airlines if the Iran war continues and the Strait of Hormuz remains restricted.

EasyJet Plc said summer bookings are trailing last year’s levels as consumers hold back on buying flights and the budget carrier raises ticket prices on higher fuel costs.

Russia’s Boeing and Airbus passenger planes are kept in the air with equipment and spare parts that move via an under-the-radar network passing through India, Turkey, the UAE and Kazakhstan, among others.

EasyJet's board called the overture by investment firm Castlelake “highly opportunistic” as the UK budget carrier grapples with a depressed stock price, cautioning that attempting a takeover would be fraught with risk.

Rolls-Royce Holdings Plc said it’s picked up additional orders for the long-struggling engine powering Boeing Co.’s 787 jet as the UK manufacturer seeks to regain ground lost to General Electric Co. on the popular widebody airliner.