“Long haul is going to be a much more serious problem.”Asked whether, inevitably, planes may have to be grounded, Marcos said “we are hoping not, but it’s a distinct possibility”. Airlines in Asia are mapping out contingency plans as the escalating Middle East conflict threatens to trigger the worst oil shock since the 1970s. Because the Philippines relies heavily on imported crude — much of it sourced from the Middle East — it’s more highly exposed than other nations in Southeast Asia to energy shortages and spiralling domestic fuel prices. Philippine budget carrier Cebu Air on Monday said it plans to reduce flights beginning next month because of surging fuel prices caused by the Middle East crisis, according to a statement. Elsewhere in Asia, Vietnam Airlines is temporarily suspending flights on some domestic routes while VietJet Aviation JSC is reducing the frequency of flights.

Source: The Edge Markets March 24, 2026 06:34 UTC