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IATA Director: Falling oil prices could affect air transport

Hemant Mistry, Director of Net Zero Transition at International Air Transport Association (IATA)

13 May 2025 11:03 (UTC +04:00)

"Jet fuel prices in Kuala Lumpur have continued to decrease since our forecast six months ago," said Hemant Mistry, Director of Net Zero Transition at International Air Transport Association (IATA) during his speech at the IATA Aviation Energy Forum, APA-Economics reports.

He stated that the current average price is around 80 dollars per barrel, which is 10 dollars cheaper compared to the previous period. The oil market is currently weak due to increasing supply and weakening demand.

The IATA director noted that while the decrease in aviation fuel prices is financially favorable for airlines, this tendency raises concerns about economic slowdown, which could impact air transport demand: "Therefore, esteemed participants, the outlook for our industry remains uncertain. We hope that some corrections will take place in the market. However, overall, it is more important to be prepared for the upcoming challenges and continue cooperation."