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.