Why Japanese airlines' $400 fuel surcharges are hitting now — and when they will end

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All Nippon Airways and Japan Airlines increased fuel surcharges Wednesday, with fees topping $400 on some long-haul flights. The hikes, which apply to tickets purchased in July and August, come even as jet-fuel rates in Asia are dropping. That's because Japan's two largest airlines calculate the fees based on averages that lag current prices by several months. Jet fuel fell to $113 per barrel Wednesday, from a record high of $242 per barrel in late March, according to data from LSEG. But the surcharges that start this week are based on prices from April and May, which averaged $178.21, according to a JAL press release . Surcharges could have ballooned even higher without budget assistance from Japan's government to help with soaring energy prices resulting from the Iran war, the airline said. Fuel levies on some routes have tripled since the start of the Iran war, with fees to fly to Japan from Hawaii, India and Indonesia jumping from $94 in April to $310 in July, accord...
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ServiceTitan (TTAN) is Unlocking Potential in New Markets

ServiceTitan (TTAN) is Unlocking Potential in New Markets Soumya Eswaran Tue, June 30, 2026 at 7:23 AM PDT 3 min read TTAN MSTR CL=F TimesSquare Capital Management , an equity investment management company, released its "U.S. Mid Cap Growth Strategy" first-quarter 2026 investor letter. A copy of the letter can be downloaded here . The Strategy fell 7.72% (net) in the quarter compared to -6.35% for the Russell Midcap Growth Index. In the first quarter, markets navigated geopolitical tensions and economic resilience alongside temporary global tariffs. High oil prices and supply chain disruptions followed U.S. and Israeli involvement in Iran, prompting a shift to safer assets and a reevaluation of supply chains and energy dependencies. Central banks maintained steady policies despite energy-driven inflation. In this environment, the Strategy remains focused on disciplined management teams with durable competitive advantages. Please review the Strategy's top five holdings to gain insights into their key selections for 2026. In its first-quarter 2026 investor letter, TimesSquare Capital U.S. Mid Cap Growth Strategy highlighted ServiceTitan, Inc. (NASDAQ: TTAN ). ServiceTitan, Inc. (NASDAQ:TTAN) is an American cloud-based software company that provides solutions for connecting and managing a range of business workflows. On June 29, 2026, ServiceTitan, Inc. (NASDAQ:TTAN) closed at $70.20 per share. One-month return of ServiceTitan, Inc. (NASDAQ:TTAN) was -6.41%, and its shares lost 35.75% over the past 52 weeks. ServiceTitan, Inc. (NASDAQ:TTAN) has a market capitalization of $6.69 billion. TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding ServiceTitan, Inc. (NASDAQ:TTAN) in its Q1 2026 investor letter: "ServiceTitan, Inc. (NASDAQ:TTAN) provides an end-to-end cloud-based software platform to connect and manage a range of business workflows for trade-based businesses. Its shares declined by -40% as investors sold everything software-related. The company has been gaining traction in new markets, supported by recent enterprise wins and increased adoption of its Pro products and AI virtual agents, with contract sizes doubling. Fiscal fourth quarter results were solid, with overall subscription revenues above the street. There was continued strength in Pro products, commercial, and roofing. Qualitative commentary from management suggests an accelerating growth potential as AI usage revenues ramp, and that is not baked into guidance." ServiceTitan, Inc. (NASDAQ:TTAN) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026 . According to our database, 44 hedge fund portfolios held ServiceTitan, Inc. (NASDAQ:TTAN) at the end of the first quarter, compared to 48 in the previous quarter. While we acknowledge the potential of ServiceTitan, Inc. (NASDAQ:TTAN) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock . Story Continues In another article , we covered ServiceTitan, Inc. (NASDAQ:TTAN) and shared Osterweis Opportunity Fund's insights on the company. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters...

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