Emirates is leaning on its fuel-hedging position to absorb higher jet fuel costs and limit fare increases as Middle East aviation faces disruption linked to the Iran war. Adnan Kazim, the Dubai carrier’s deputy president and chief commercial officer, described the airline as “well hedged” and “half protected and half open” to the market, while saying it is trying not to push operating costs through to customers.
The strategy reflects the intense pricing pressure in the Gulf, where airlines compete heavily for connecting traffic and can quickly lose demand if ticket prices rise too far. Kazim said Emirates is holding back prices as much as possible under current operating conditions and avoiding increases that could displace traffic. The airline had already indicated in May that it was hedged on fuel until 2028-29, with enough supply secured to support current operations and a return to pre-disruption capacity.
The comments come as carriers across the region contend with higher fuel costs and wider operational disruption caused by the conflict. For Emirates, the hedge provides a buffer that may allow it to protect volumes in the near term rather than pass on the full shock to passengers immediately.