Japan's ANA, JAL say Middle East war lifts fuel costs, no immediate supply issues
Published on April 30, 2026.
Japan's two largest airlines, ANA Holdings (9202.T) and Japan Airlines (9201.T), have stated that the Middle East conflict is keeping fuel costs elevated and the outlook is uncertain. However, executives from both ANA and JAL have stated there is no immediate supply disruption due to the conflict. They estimate that higher fuel prices will raise costs by about 140 billion yen ($872 million) this year, but this is expected to be limited to around 60 billion yen. ANA is considering introducing a domestic fuel surcharge in the financial year starting April 2027.
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