Hemant Mistry: Aviation sector outlook remains uncertain amid oil market volatility

The oil market remains vulnerable amid rising supply and declining demand, Hemant Mistry, director of Zero Emissions at the International Air Transport Association (IATA), said at the IATA Aviation Energy Forum in Baku, Report informs.

He noted that jet fuel prices continue to decline.

"The average price is around $80 per barrel, which is $10 less than the previous period. While cheaper fuel brings short-term financial benefits to airlines, this trend also raises concerns about a slowdown in the global economy, which could negatively affect demand for air travel. Thus, the outlook for our industry remains uncertain. We hope for market stabilization, but the main thing is to be prepared for possible difficulties and continue to work together," Mistry added.