With jet fuel prices up over 50% compared to last year, there were fears that the airline industry’s post-pandemic high would come to a crashing halt. Airfares would consequently go up, and travel demand might actually dampen.

However, those fears have not been realized — at least not right now. Multiple airline executives at the JPMorgan Industrials Conference this past week said they are still seeing high demand and that demand is offsetting surging jet fuel prices. Delta said it saw eight of its 10 highest sales day during the first quarter; American saw the same; and United said the first 10 weeks of 2026 were also its highest sales weeks. United CEO Scott Kirby said the carrier even ran a scenario in which oil cost $175 a barrel, and the carrier was still able to make a profit. Much of that demand is still being propped up by premium and international travel.

In previous years, economic shocks would have a noticeable impact on the airline industry. But between the introduction of tariffs last year and increasing oil prices, it so far appears as if the industry has fundamentally changed since 2020.

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