Flight price rises due to 'foolish leaders' starting wars, Virgin's Branson says
Virgin Group founder Sir Richard Branson attributes rising airfares to geopolitical conflicts, specifically criticizing leaders for the war in the Middle East. He argues that these conflicts have disrupted oil production, leading to higher fuel costs for airlines.
Why it matters
It highlights the direct economic impact of geopolitical instability on global travel costs and consumer inflation.
By Katy Austin , Transport correspondent and Mitchell Labiak , Business reporter Published 12 minutes ago Virgin Group founder Sir Richard Branson has blamed flight price rises on "foolish leaders" starting wars, in a thinly veiled reference to the US-Israel conflict with Iran.
Middle East tensions have choked the production and transportation of millions of barrels of oil, causing a surge in the price of car and jet fuels, which are made from oil.
In May, Virgin Atlantic added a fuel surcharge to ticket prices in response.
US President Donald Trump has repeatedly defended the conflict as necessary for peace and security long-term.
However, Sir Richard said there was "no need" for the war.
"The Iran conflict was completely unnecessary. There was a nuclear agreement between Iran and the rest of the world that had been negotiated by President Obama and a lot of European people.
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