# Quarterly Air Transport Chartbook Q2 2026

**Publisher:** IATA  
**Published:** n/a  
**Category:** Global institutions & policy  
**Type:** Report  
**Access:** Free PDF  
**Official source:** https://www.iata.org/en/publications/economics/reports/quarterly-air-transport-chartbook-q2-2026  
**Canonical:** https://tourismintel.ai/reports/iata-quarterly-air-transport-chartbook-q2-2026

## At a glance
- Global jet fuel prices averaged USD 158.0 per barrel in Q2 2026, up 27% from USD 124.7 in Q1 2026, driven by Persian Gulf export disruptions.
- Jet fuel peaked at USD 188.4 per barrel in April amid sharp declines in exports from the Middle East region.
- Crack spreads for jet fuel averaged USD 55 per barrel in Q2 2026, reflecting elevated margins relative to diesel.
- Middle Eastern carriers' monthly traffic decline moderated in Q2 2026 after peak Iran war disruption in March.

## What the report covers
IATA's quarterly analytical report combines charts with data-driven commentary on global aviation trends. It covers the macroeconomic environment, energy prices, passenger and cargo traffic, air connectivity, and regional performance for the second quarter of 2026. Published by IATA's Sustainability and Economics division, it provides industry stakeholders with timely insights into market conditions and emerging risks affecting aviation demand and supply.

## Key findings
Middle East geopolitical developments continued to dominate macroeconomic conditions in Q2 2026, creating significant volatility in oil prices. A temporary US–Iran agreement briefly reduced crude prices below pre-conflict levels as hostilities eased and Strait of Hormuz transit partially resumed. However, renewed fighting quickly reversed this respite, pushing oil prices back upward. The report warns of mounting risks from lasting energy supply disruptions as stocks are progressively drained, with high likelihood that oil and jet fuel prices remain elevated well into 2027.

Higher energy prices are feeding through to consumer price inflation across major economies, eroding household purchasing power and constraining growth prospects. This inflationary pressure has prompted upward repricing of interest rate expectations, creating an unhelpful feedback loop for aviation demand. The combination of persistent inflation and weakened purchasing power poses a material headwind to passenger traffic growth in the coming quarters, according to the report's analysis.

Global jet fuel prices surged 27% quarter-over-quarter, with particular severity in the second half of April when prices peaked at USD 188.4 per barrel. Disruptions to Persian Gulf exports had disproportionate impact on refined products, forcing Asian refiners to reduce throughput due to heavy reliance on Middle Eastern crude feedstock. Elevated jet fuel margins relative to diesel encouraged refiners to maximize jet fuel yields, partially offsetting the supply shortfall but leaving the market tight throughout the quarter.

Robust aviation demand and persistently low inventories kept the jet fuel market tight throughout Q2 2026, with conditions expected to persist into 2027. Crack spreads averaged USD 55 per barrel, reflecting strong market fundamentals despite supply constraints. The report highlights that these conditions create supply-chain challenges for carriers and structural support for fuel costs, with implications for airline profitability and pricing strategies extending well beyond the current quarter.

## Key numbers
| Metric | Value | Note |
|---|---|---|
| Global jet fuel price, Q2 2026 average | USD 158.0 per barrel | Observed; up 27% from USD 124.7 in Q1 2026 |
| Jet fuel price peak, April 2026 | USD 188.4 per barrel | Observed; coincided with sharp decline in Middle East exports |
| Jet fuel crack spread, Q2 2026 average | USD 55 per barrel | Observed; spread between global jet fuel price and Dated Brent |
| Jet fuel price, Q1 2026 average | USD 124.7 per barrel | Observed; baseline for Q2 comparison |
| Quarter-over-quarter jet fuel price growth | 27% | Observed; Q1 2026 to Q2 2026 |

## Why it matters
**DMOs & destinations** — Elevated fuel costs and reduced purchasing power directly suppress international travel demand. DMOs must anticipate weaker passenger flows through 2027 as airline pricing adjusts to higher input costs and macroeconomic headwinds intensify. Regional performance disparities outlined in the report guide destination marketing investment and competitive positioning in a constrained demand environment.

**Hotels & hospitality** — Higher jet fuel prices increase airline ticket costs, dampening leisure travel bookings and occupancy rates. Hospitality operators should prepare for softer demand into 2027 as consumer purchasing power erodes from inflation. Rising energy costs also pressure hotel operations, requiring revenue management strategies that balance lower volumes with margin preservation.

**Travel tech & distribution** — Tight fuel supplies and volatile pricing create operational complexity for booking platforms and GDS systems managing real-time fares and inventory. Distribution partners must adapt to rapid price fluctuations and potential capacity constraints as carriers adjust capacity in response to structural cost increases. Long-term fuel price elevation reshapes demand patterns and competitive dynamics in online travel markets.

## Methodology and limits
This brief is based on the publicly available summary and excerpts from IATA's Q2 2026 Quarterly Air Transport Chartbook. The full report employs IATA's standard methodology combining official aviation statistics, fuel market data, macroeconomic indicators, and regional carrier performance metrics. All figures cited are observed data or market prices, not forecasts, covering the calendar quarter April–June 2026. The report's scope extends beyond the excerpts provided; this summary reflects only the content accessible via the public page.

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© IATA for the original report. This brief is an original editorial summary by TourismIntel (https://tourismintel.ai). Read the original: https://www.iata.org/en/publications/economics/reports/quarterly-air-transport-chartbook-q2-2026