United Airlines is slashing flights as soaring fuel prices tied to the Iran war hit U.S. carriers, becoming the first major U.S. airline to announce a cut to capacity after weeks of industry warnings.

United CEO Scott Kirby said in a staff memo released Friday that the airline will cut about 5% of capacity by trimming less profitable routes. He said the company is preparing for a prolonged period of elevated fuel prices, modeling oil at $175 per barrel and expecting it could remain above $100 through the end of 2027.

“The reality is, jet fuel prices have more than doubled in the last three weeks,” Kirby said in a statement. “If prices stayed at this level, it would mean an extra $11B in annual expense just for jet fuel. For perspective, in United’s best year ever, we made less than $5B.”

Kirby stressed the airline is not panicking and plans to manage the short-term pressure by cutting unprofitable flying while continuing its long-term growth strategy.

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A United Airlines Boeing 787 Dreamliner arrives at Los Angeles International Airport on March 7, 2026, in Los Angeles, California. (Kevin Carter/Getty Images / Getty Images)

United said the cuts will total about 5 percentage points of its planned capacity, including roughly 3 points from off-peak flying such as midweek and overnight routes, about 1 point from reductions at Chicago O’Hare, and another 1 point tied to suspended service to Tel Aviv and Dubai. The airline expects to restore its full schedule in the fall.

Despite the pullback, Kirby said demand remains strong, noting that the airline has recorded its “10 biggest booked revenue weeks” in its history over the past 10 weeks.

He emphasized that United is not responding to the fuel shock with drastic measures seen in past downturns, such as furloughs or delaying aircraft orders. Instead, the airline plans to continue taking delivery of about 120 new planes this year, including 20 Boeing 787s, with another 130 aircraft due by April 2028, he said.

MAJOR AIRLINE SUSPENDS ABU DHABI FLIGHTS UNTIL END OF YEAR AMID AIRSPACE ‘UNCERTAINTY’

United CEO Scott Kirby said in a staff memo released Friday that the airline will cut about 5% of capacity by trimming less profitable routes. (Al Drago/Bloomberg via Getty Images / Getty Images)

“To be clear, nothing changes about our longer-term plans for aircraft deliveries or total capacity for 2027 and beyond, but there’s no point in burning cash in the near term on flying that just can’t absorb these fuel costs,” he said.

The strategy, Kirby said, is to cut unprofitable flying in the near term while continuing to invest in long-term growth.

Other airlines, meanwhile, have so far stopped short of announcing major flight cuts, underscoring how United is among the first U.S. carriers to move from warnings to action as fuel costs surge.

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Commercial vessels are pictured offshore in Dubai on March 11, 2026. The war with Iran has caused oil prices to soar, impacting U.S. airlines.  (AFP via Getty Images / Getty Images)

Delta Air Lines has said it could trim capacity if fuel prices stay elevated, according to Reuters, while other major U.S. carriers have so far relied on fare hikes to offset rising costs.

International carriers have moved faster, with airlines including Qantas, Scandinavian Airlines and Thai Airways raising prices, and Air New Zealand canceling more than 1,000 flights, according to earlier reports.

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SEOUL — BTS made a triumphant return to the stage Saturday, March 21, 2026, with their first full-group performance in nearly four years at a free outdoor concert in Gwanghwamun Square, delivering a setlist dominated by tracks from their new fifth studio album *Arirang* and leaving millions of ARMY worldwide emotional in the historic moment.

The one-hour special event, titled *BTS THE COMEBACK LIVE | ARIRANG*, streamed exclusively on Netflix starting at 8 p.m. KST (7 a.m. ET), drew an estimated 260,000 fans to the iconic square in central Seoul — the largest gathering for a K-pop concert in the city. A pre-show drone display lit up the night sky with members’ faces and symbolic imagery, while massive crowds filled security checkpoints from early morning, chanting and waving light sticks in purple.

The show opened with the album’s lead single “Swim,” setting a reflective tone that blended Korean cultural motifs with BTS’s signature introspective lyrics. RM addressed the crowd early, thanking ARMY for their patience during the hiatus caused by mandatory military service. “We’ve been away, but our hearts never left,” he said, drawing cheers that echoed off Gyeongbokgung Palace’s gates.

The setlist leaned heavily into *Arirang*, released just one day earlier on March 20. Of the 14 tracks on the album — including “Body to Body,” “Hooligan,” “Aliens,” “FYA,” “2.0,” “No. 29,” “Merry Go Round,” “NORMAL,” “Like Animals,” “they don’t know ’bout us,” “One More Night,” “Please” and “Into the Sun” — BTS performed at least eight live for the first time. Highlights included the anthemic closer “Into the Sun,” where all seven members — RM, Jin, SUGA, j-hope, Jimin, V and Jung Kook — shared vocal lines in a powerful display of unity, and “Swim,” which featured intricate choreography against the backdrop of Seoul’s historic landmarks.

Fans online described the performance as “heavy on new material” but perfectly balanced, with seamless transitions from fresh songs to beloved classics. The group included brief nods to older hits like “IDOL” and “Fake Love” in medley form, but the focus remained on *Arirang*’s themes of Korean identity, resilience and renewal — a deliberate choice after years of solo endeavors and service.

Jung Kook’s high notes in “Please” and Jimin’s emotive delivery in “Merry Go Round” stood out, while SUGA and j-hope brought rap intensity to “Hooligan” and “FYA.” V’s soulful verses in “Like Animals” and Jin’s stable vocals anchored the harmonies. The members appeared energized, with minimal signs of RM’s recent ankle injury (he wore supportive gear but moved freely).

The concert marked BTS’s first group stage since October 2022, following the completion of military duties by all members in 2025. It served as a prelude to the *Arirang World Tour*, kicking off April 9-12 in Goyang, South Korea, with 82 dates across Asia, North America, Europe, Latin America and Australia planned through 2027.

Netflix’s global livestream captured the electric atmosphere, including fan chants, light stick seas and emotional reactions from ARMY watching remotely. A companion documentary, *BTS: The Return*, premieres March 27 on the platform, offering behind-the-scenes access to the album’s creation in Los Angeles and Seoul.

*Arirang* — BTS’s first full-group release in six years — debuted with massive streaming numbers, topping charts worldwide hours after its March 20 drop at 1 p.m. KST. The title draws from the traditional Korean folk song, symbolizing the group’s roots and journey through challenges.

As the show concluded with fireworks and a heartfelt group bow, RM promised more to come. “This is just the beginning,” he said. “Thank you for waiting. We’ll keep running toward you.”

The event underscored BTS’s enduring global impact, blending cultural pride with universal themes. With the album fresh and tour looming, ARMY worldwide celebrated the start of a new era for the K-pop icons.

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Wall Street’s major averages were in the red on Friday, with oil sustaining higher prices even as Israeli Prime Minister Netanyahu said the country is helping to reopen the Strait of Hormuz. Oil prices slipped late on Thursday on the news that Benjamin Netanyahu said Iran no longer has the capacity to enrich uranium or make ballistic missiles. Meanwhile, the U.S. military is reportedly sending thousands more Marines to the Middle East, including three warships, according to U.S. officials.

With no major earnings scheduled, investors will keep a keen eye on key economic data releases next week. S&P Global PMI data for March is due on Tuesday. Crude oil inventory data will be out on Wednesday. On Thursday, initial jobless claims data will be released.

GameStop (GME), BYD (BYDDF), and Carnival Corp. (CCL) are among the companies reporting their results next week.

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Earnings spotlight: Tuesday: GameStop. See the full earnings calendar.

Earnings spotlight: Wednesday: PDD (PDD), Beyond Meat (BYND). See the full earnings calendar.

Earnings spotlight: Thursday: Pony Ai (PONY). See the full earnings calendar.

Earnings spotlight: Friday: BYD, Carnival Corp. See the full earnings calendar.

Volatility watch: Coinbase (COIN) and lululemon (LULU) have a high level of implied volatility based on options trading. Sunrun (RUN) and Omega Therapeutics (OMGAQ) head into the new week with a high level of short interest outstanding on them. The most overbought stocks per their 14-day relative strength index include Tilly’s (TLYS), Adecoagro (AGRO

ISTANBUL — Istanbul Airport (IST), one of the world’s busiest aviation hubs, is fully open and operating normally on Saturday, March 21, 2026, with no widespread closures, major shutdowns or emergency restrictions reported, according to official airport data, live flight trackers and Turkish authorities.

The massive facility — handling over 1,400 scheduled flights daily — shows active arrivals and departures across domestic and international routes. Real-time dashboards from the official iGA Istanbul Airport website display check-in counters open, boarding gates active and passenger processing moving smoothly. Live waiting times remain low: terminal entrance checkpoints at 1-3 minutes, passport control at 13-14 minutes in busiest areas, and domestic controls at 1-2 minutes. Weather conditions are mild with broken clouds, 7-9°C (45-48°F) temperatures, and north winds at 16-18 knots, posing no significant operational threats.

Flight tracking platforms like Flightradar24, FlightStats and FlightAware confirm ongoing activity. Arrival and departure boards list hundreds of flights in progress, including Turkish Airlines services from Guangzhou, Moscow, Ashgabat and Delhi landing or departing as scheduled. Delay indices stand at very low to low levels (0.25-0.4 arrival delay index), with no systemic cancellations or ground stops. Turkish Airlines’ flight status page and third-party aggregators like Skyscanner and Trip.com show real-time updates without blanket alerts for IST.

The airport has maintained operations throughout the ongoing regional tensions stemming from the U.S.-Israeli conflict with Iran, now in its seventh week. While airspace restrictions over Iran, Iraq, Syria, Lebanon, Jordan and parts of the Gulf have forced route diversions, increased congestion in Turkish airspace and temporary suspensions for certain Middle East destinations, Istanbul Airport itself has not faced closure. Turkish Transport Minister Abdulkadir Uraloğlu extended flight halts to Iran, Iraq, Syria, Lebanon and Jordan until March 9 (with some carriers like Turkish Airlines and Pegasus extending to March 12-20), but emphasized that domestic and non-restricted international traffic continues unimpeded.

Earlier disruptions peaked around March 5-6, when airspace closures diverted 15 flights (nine to IST) and caused scattered delays. By mid-March, reports indicated 141 delays and nine cancellations across Istanbul airports on select days, primarily affecting carriers like Pegasus, Qatar Airways, Gulf Air and others on Gulf routes. However, these were route-specific rather than airport-wide shutdowns. Istanbul Airport absorbed diverted traffic efficiently, with no evidence of capacity overload or operational halts.

Officials stress that Turkish airspace remains safe and open, with air traffic services maintained without major interruptions. Istanbul Airport’s role as a global transfer hub has continued, though passengers on affected routes face longer flight times due to rerouting around closed corridors.

Travel advisories from airlines and governments recommend checking individual flight status before heading to the airport. Turkish Airlines and Pegasus have issued notices for suspended or adjusted services to certain Middle East cities, advising passengers to monitor updates via official channels. No new advisories indicate IST-specific closures or major disruptions as of late March 21.

The airport’s live stream and operation center feeds show normal activity in terminals, with passengers moving through security, retail and gates without unusual congestion. Exhibition spaces, including artist Beyazıt Öztürk’s “Things” display, remain open, underscoring the facility’s focus on passenger experience amid external challenges.

Experts note that Istanbul Airport’s design — with three parallel runways, advanced ATC systems and vast capacity — has enabled it to handle increased traffic from diversions while maintaining high on-time performance (around 75-89% in recent metrics). The hub’s strategic location continues to make it a preferred rerouting point for international carriers.

Travelers planning to use IST today or in coming days should verify their specific flight via airline apps, the official airport site (istairport.com) or trackers like Flightradar24. Allow extra time for potential minor delays from regional airspace adjustments, but the airport remains fully accessible for departures, arrivals and connections.

As geopolitical tensions persist, Istanbul Airport’s resilience highlights its critical role in global aviation. No immediate threats to full operations have emerged, and authorities continue monitoring the situation in real time.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.