Hassett: Energy shocks from Iran war will affect airline profits for at least a quarter
Summary
Kevin Hassett, a White House economic official, said that problems with energy caused by the conflict involving Iran will impact airline profits for about three months. Despite this, he noted that airlines are currently doing well financially.Key Facts
- Kevin Hassett is the Director of the White House National Economic Council.
- He said energy problems from the Iran war will affect airline profits for at least one quarter (about three months).
- Hassett mentioned airlines are financially healthy at the moment.
- His comments came after Spirit Airlines decided to stop some operations.
- The Iran war is causing shocks in energy prices or supply that affect businesses like airlines.
- The airline industry’s earnings are likely to face short-term challenges due to higher energy costs.
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