April 13 (Reuters) - Virgin Atlantic Chief Executive Corneel Koster has warned that elevated jet fuel prices are "here to stay", and said that a prolonged war in the Middle East could dampen global
Virgin Atlantic CEO Says Elevated Jet Fuel Costs Likely to Remain Due to Middle East War
Virgin Atlantic Faces Ongoing Challenges from High Jet Fuel Prices
CEO Corneel Koster Warns of Prolonged Impact
April 13 (Reuters) - Virgin Atlantic Chief Executive Corneel Koster has warned that elevated jet fuel prices are "here to stay", and said that a prolonged war in the Middle East could dampen global travel demand, the Financial Times reported on Monday.
Profitability Concerns and Fuel Surcharges
Struggles to Return to Profitability
In an interview with the FT, Koster said the British airline will struggle to return to profitability this year, even after adding fuel surcharges to fares in an effort to counter rising costs.
Jet Fuel Prices Remain High Despite Ceasefire
Ceasefire's Limited Effect on Costs
He added that despite what he described as the "positive news" of a ceasefire between the U.S. and Iran, "all-in jet fuel prices" remain more than double their pre-war levels.
Fuel Supply and Government Discussions
Outlook for Jet Fuel Supplies
In a separate interview with Bloomberg News, Koster said Virgin Atlantic has about six weeks of secure jet fuel supplies before the outlook gets murkier.
Collaboration with Governments and Heathrow
He added that the airline is in discussions with governments and its base at London's Heathrow Airport to help ensure adequate fuel availability.
(Reporting by Disha Mishra in Bengaluru; Editing by Sumana Nandy)
