Fuel cost savings at US carriers to hit billions
New York
US airlines on Thursday forecast enormous fuel savings in 2015 but hinted that ample consumer demand would allow them to avoid fare discounts and pass savings on to shareholders.
Share prices rose across the industry after four airlines said that they will save hundreds of million of dollars in fuel costs starting this year, with global oil prices down more than 57 per cent since June. Fuel is the biggest variable cost for airlines, often representing a third or more of total operating expenses.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring
Chinese share of French EV market slumps after incentives curbed
Ferrari unveils US$423,000 sports car with 1960s bloodline
Airbus called for compensation to take on money-losing Spirit operations: sources
China’s electric cars keep improving, a worry for rivals elsewhere