Gate News message, April 17 — Three major airlines have entered administration or liquidation in 2026, resulting in thousands of flight cancellations as a jet fuel crisis grips the aviation industry. EcoJet UK, Royal Air Philippines, and Dove Airlines have all ceased operations, with Royal Air Philippines alone canceling approximately 4,000 flights between January and March 2026.
EcoJet UK, which launched in 2023 with plans to operate the world’s first hydrogen-powered electric airline, entered voluntary liquidation in February. Royal Air Philippines, a budget carrier that began commercial operations in 2018 serving Asian destinations including China, Cambodia, and South Korea, spiraled into administration earlier this year. Dove Airlines, headquartered in Kolkata, India, entered voluntary liquidation in January after ceasing flight operations in 2022.
The crisis has been triggered by surging oil prices stemming from geopolitical tensions in Iran. Jet fuel prices have more than doubled since the Iran conflict began, rising from $2.50 per gallon to $4.32 per gallon as of Thursday, April 16. Air Canada announced today that it will suspend service to New York’s JFK International Airport from June 1 through October 25, citing soaring fuel costs that have made certain routes economically unviable. The airline stated that flights from Toronto and Montreal to JFK will be suspended, while operations to LaGuardia and Newark will continue.
Other carriers are also feeling the strain. Delta Air revealed this month that increased fuel costs will add $2 billion to its second-quarter expenses. Airlines including JetBlue and United Airlines are raising baggage fees to offset soaring fuel costs, while others are reducing services. According to the International Energy Agency director Fatih Birol, Europe has approximately six weeks of remaining jet fuel supplies, warning that the global economy faces its “largest energy crisis.” Oil prices fell over 10% on Friday after Iran announced that the Strait of Hormuz is once again accessible for commercial tankers.
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