Flights across the US and overseas are suddenly getting far more expensive as the war with Iran drives up oil prices and forces airlines to raise fares.
Travelers booking spring and summer trips are already seeing sharp increases in ticket prices, with some flights more than doubling in cost in just a week.
Airline executives say the spike is being driven by surging jet fuel prices after the US and Israel launched attacks on Iran late last month. Jet fuel is the second biggest expense for airlines after labor, and when costs jump quickly, carriers often respond by raising fares.
New analysis from Deutsche Bank found that among nine major US airlines, the steepest increase was at budget carrier Spirit Airlines.
The lowest listed one way domestic fare booked about three weeks in advance more than doubled in a week, jumping to $193.
Prices have also surged across other airlines including United Airlines and Delta Air Lines, where fares on comparable flights increased between 15 percent and 57 percent.
Travel expert Katy Nastro at Going, an American travel technology company, told the Daily Mail that history indicates that fares will likely stay high as airlines deal with the high costs. But she added that ticket prices will ultimately depend on how much travelers are willing to pay.
New analysis from Deutsche Bank found that among nine major US airlines, the steepest increase was at budget carrier Spirit Airlines.
Travel expert Katy Nastro encouraged flyers to not wait when booking their flight and to plan ahead for later trips if they spot a bargain.
Katy encouraged flyers to not wait when booking their flight and to plan ahead for later trips if they spot a bargain.
'There is no reason not to be thinking about summer travels, even fall travels, especially if you see a deal,' they said, pointing to a recent Boston-to-Sicily fare for $488 in September listed on Going.
She also said her best piece of advice was not to rely solely on the so-called 'Goldilocks Window' - the period widely regarded as the ideal time to book flights, typically one to three months in advance for domestic trips and two to eight months for international travel.
Instead, Katy suggested travelers take advantage of main economy tickets, which often allow passengers to reprice their booking if fares drop.
If the cost of the flight falls after purchase, travelers can contact the airline to have the ticket repriced and receive a credit for the difference, potentially saving money in the long run.
While prices are expected to rise if high costs persist, the increases may not mirror the volatility seen in oil markets.
'The good news is that we don't expect airfares to spike in a similar way to what oil has been doing, but the bad news is higher fares are likely the longer this lasts.'
She did note that the most impacted would be foreign carriers that 'rely on Middle Eastern reserves'.
Travelers booking spring and summer trips are already seeing sharp increases in ticket prices, with some flights more than doubling in cost in just a week, as the war with Iran escalates and drives up oil prices.
Prices have also surged across other airlines including United Airlines and Delta Air Lines, where fares on comparable flights increased between 15 percent and 57 percent.
Some frequent travelers are already rushing to lock in trips before prices climb further.
Venture capitalist Sam Alexander said he booked flights for several upcoming trips shortly after the war began because he feared fares would rise.
Two days after buying a ticket to Hawaii, the price for the same flight had jumped by $400.
'I'm thankful that I locked in my tickets at a good price just a few days after the war began,' he told the WSJ.
Airlines around the world have already started passing on the higher costs.
Cathay Pacific said it will roughly double fuel surcharges on some tickets starting March 18.
Australia's Qantas has begun raising fares to cover higher operating costs, while Scandinavian Airlines said the 'unusually rapid and substantial increase' in fuel prices has forced it to lift ticket prices.
Air New Zealand has already made 'initial fare adjustments' and warned further increases could follow if fuel prices remain elevated.
United Airlines CEO Scott Kirby said higher fares were 'likely' on the way because of the surge in fuel prices at a Harvard event last week.
United, Delta and Southwest Airlines all declined to comment to the Daily Mail about whether they planned to follow in Cathay's footsteps.
Major US airline will be gathering next Tuesday at the JP Morgan Industrials Conference in Washington, DC, where they will update investors on fuel prices.
But slips by company executives suggest customers are likely to see ticket prices go up even more, with United Airlines CEO Scott Kirby saying higher fares were 'likely' on the way because of the surge in fuel prices at a Harvard event last week.
Despite this, Kirby was steadfast in his belief that travel demand was still strong. And two airline executive told CNBC under anonymity that if demand stays high, it'll give airlines more pricing power.