The flight refund problem is fixed. The jet fuel problem is just getting started

India's civil aviation ministry issued two directives this March that pulled in opposite directions. First, it mandated full refunds for cancelled flights. Three days later, it removed all caps on airfares. The trigger for the second move: the US-Israeli war against Iran has sent jet fuel prices soaring, up nearly 60% in the US, and India is bracing for the impact.

Airlines, already running on thin margins, are warning that fares will rise.

For Indian flyers, the net result is this: cancellations just got free but flights just got more expensive.

How did we get here?

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