Holidays could become far more expensive if soaring costs continue to hammer the industry, an airline boss has warned. Gediminas Ziemelis, owner of the Lithuanian aviation company Avia Solutions Group, said airlines around the world are facing increased pressure from rising fuel prices and weakening demand amid the conflict in the Middle East.

Fuel is one of the biggest expenses for airlines, accounting for around a quarter of total operating costs. Prices have surged dramatically since the conflict began, pushing up fares and forcing carriers to rethink routes and schedules. Fewer bookings, spiralling oil costs and grounded planes are already taking their toll, with Ziemelis warning the situation could quickly worsen. “If (the war) lasts more than one month, we may see potential first bankruptcies of airlines across the globe,” he said.

Major airlines are already passing costs onto passengers. For example, the Australian Qantas Airways said rising fuel prices – up by as much as 150% in recent weeks – were “driving up costs across the Group”, while other carriers have confirmed ticket increases.

Ziemelis also warned that demand for travel in Europe is weakening at a time when airlines would usually prepare for a busy summer season, AFP reports.

Bookings are “significantly lower” than in previous years, and industry experts say uncertainty is now shaping travel plans, with airlines “working it out as they go” as conditions rapidly change.

Aviation consultant Keith Tonkin said carriers are reviewing flights weekly, with disruption likely to persist in the short term.

He said: “There is absolutely a bit of uncertainty. Right now, it feels like the problems are getting bigger, not smaller.”

While fares are rising, airlines may be cautious about pushing prices too high. Tonkin warned that excessively high costs could deter passengers altogether and force further cancellations.

Travel expert Angus Kidman added that although cheap flights are unlikely to return soon, airlines cannot sustain high prices indefinitely due to competition.

For now, travellers are being urged to expect higher costs and potential disruption, with the outlook for summer holidays increasingly uncertain as the crisis continues.