The Iran war is hitting travel companies’ bottom lines hard — not just through surging fuel costs, but by suppressing demand and upending booking patterns across the industry. Jet fuel costs have nearly doubled since U.S. strikes on Iran began in late February, adding billions to airline expense lines.
First-quarter earnings season is now over, and the damage has not been uniform. Airlines and cruise lines have been hardest hit, with many cutting or suspending their full-year forecasts. Hotel groups have fared better: Marriott and Hilton raised their annual RevPAR forecasts, with both companies betting on a rebound in U.S. domestic travel to boost demand. Airbnb increased its full-year guidance with revenue expected to grow in the low-to-mid teens.
Here are several travel companies that have cut their forecasts amid the turmoil.
Cruise Lines
Royal Caribbean
Royal Caribbean Group trimmed its full-year adjusted earnings forecast to $17.10 to $17