For global airlines, this year was supposed to be a big one. The industry projected record profits — backed by more than 5 billion passengers — and a busy summer travel season ahead. But then came the war in Iran, the closure of the Strait of Hormuz and major disruptions to global jet fuel supplies.

On today’s Big Take podcast, Bloomberg’s Global Aviation Editorial Leader Benedikt Kammel joins Sarah Holder to discuss the growing jet fuel crunch: how airlines are scrambling to absorb billions in unexpected expenses, which markets and routes are most affected by the squeeze and how disruptions stemming from the war could reshape the industry (and your summer travel plans).

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by Sarah Holder; Produced by Julia Press; Reported by Benedikt Kammel; Edited by Tracey Samuelson.

Fact-checking by Editorial team; Engineering by Alex Sugiura.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.