As oil prices continue to rise, low-cost carriers (LCCs) are facing significant financial challenges. In an effort to cope with these increased fuel costs, many airlines are reducing their flight schedules.
The decision to cut flights is part of a broader strategy to manage expenses during this turbulent period for the aviation industry. LCCs are particularly vulnerable due to their business models, which rely heavily on cost efficiency.
In addition to flight reductions, some airlines are implementing unpaid leave policies for their staff. This measure aims to further alleviate financial strain as the industry navigates the impact of surging oil prices.