
Your 60-second money minute. Today’s topic: Summer Flight Cancellation Risk
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Jessica Ettinger
With a CNBC your money minute. I'm Jessica Ettinger. American travelers with summer flights to Europe and beyond might want to have a backup plan. He's got a trip planned for Europe. Should he be worried that his seat
Matt Smith
is going to be canceled for June and for August? Yeah. What do you think? I'd be a little concerned. Yeah. If you were saying Asia, I'd be more worried.
Jessica Ettinger
That's Kepler's Matt Smith on CNBC with CNBC's Melissa Lee and Andrew Ross Sorkin.
Matt Smith
You think the airlines are going to cancel it outright? I think we're going to get to that point, yeah. Wow. Right? That's a wow.
Jessica Ettinger
I know jet fuel supplies are dwindling in parts of Asia and Europe as Americans hope for an end to the US War with Iran and free and safe passage for tankers again through the strait of Hormuz in the Middle East.
Matt Smith
But the question is, I mean, how broad do you think that cancellation is going to be? Well, it's going to be two things. Right. It's going to be the fact that they're canceling because they don't have the jet fuel to be able to run the flights. But. But it's also those costs as well where it could be so out of control. Yeah, exactly. Yeah. Yeah. This is something that is coming. It's a slow motion car crash. Yeah. And we're just, we're kind of sleepwalking through it almost. Wow.
Jessica Ettinger
Flight cancellations started in the Middle east shortly after US Missiles flew into Iran in February. Then across Europe with Lufthansa and its subsidiary airlines cutting 20,000 short haul flights through September. And Asian and Australian airlines have also announced the summer flight reductions. Ryanair, the biggest airline in Europe, said it would not be canceling summer flights because it had hedged its fuel contracts before the Iran war broke out. Keep up on summer vacation flying. @cnbc.com I'm Jessica Ettinger. CNBC.
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Date: May 22, 2026
Host: Jessica Ettinger (CNBC)
Featured Guests: Matt Smith (Kepler, Energy Analyst), Melissa Lee, Andrew Ross Sorkin
Episode Length: 60 seconds
This rapid-fire episode delivers an urgent financial tip for travelers: Americans planning trips to Europe or beyond during the 2026 summer should brace themselves for possible flight cancellations. The cause? A complex mix of dwindling jet fuel supplies, the ongoing US-Iran conflict, and escalating airline costs, especially impacting transcontinental travel. CNBC experts break down what travelers should expect, where the highest risks are, and highlight airline-specific responses.
Increasing concern for international travelers:
Jessica Ettinger opens by warning travelers to “have a backup plan” if flying to Europe or other international destinations this summer.
(00:00)
Expert evaluation:
Matt Smith expresses measured concern: “Should he be worried that his seat is going to be canceled for June and for August?...I’d be a little concerned. Yeah. If you were saying Asia, I’d be more worried.”
(00:13)
Fuel supply shortages:
Jet fuel scarcity in Asia and parts of Europe has created significant flight operation challenges, with Jessica pointing out,
“Jet fuel supplies are dwindling in parts of Asia and Europe as Americans hope for an end to the US war with Iran and free and safe passage for tankers again through the Strait of Hormuz in the Middle East.”
(00:33)
Impact of the US-Iran conflict:
The supply issue is directly tied to ongoing tensions and conflict in the Middle East, which has disrupted the supply of jet fuel.
Rising operational and fuel costs:
Matt Smith adds another dimension: airlines may cancel flights “because they don’t have the jet fuel to be able to run the flights” and due to soaring costs.
He describes the situation as
“a slow motion car crash” and notes,
“We’re just… kind of sleepwalking through it almost.”
(00:45)
Wave of airline cuts:
Exceptional cases:
Ryanair, Europe's largest airline, stands out for its resilience:
On growing worries for travelers:
On the cascading effect of fuel shortages:
On the possibility of widespread cancellations:
On Ryanair’s strategic advantage:
Travelers with summer plans to Europe, Asia, or Australia should stay alert: