CAPA Head of Research: 'Jet fuel refining margins are at record highs'

CAPA - Centre for Aviation head of research Simon Elsegood, speaking at the CAPA Airline Leader Summit Australia Pacific, stated (28-Jul-2026) the aviation sector is "in the middle of the biggest fuel supply crisis since the 1970s", adding: "it's causing huge financial stress for airlines", although he acknowledged "jet fuel refining margins are at record highs". Mr Elsegood said recent previous periods of stress for the industry, such as 2008/09 and 2022, demonstrated that airlines can absorb high fuel prices, but can struggle with the impact of rapid, significant increases and decreases in the price of fuel.