High fuel cost hits airline hard
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Record high prices for jet fuel is the reason why American Airlines is being force to cut more than 1,000 employees, says CEO Gerard Arpey.
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Blaming excess capacity, extremely high fuel prices, which and descending fares, ATA Holdings Corp., parent of discount airline carrier ATA Airlines, said it has filed for bankruptcy.
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American Airlines on Wednesday said record-high fuel costs pushed it to a hefty third-quarter loss and warned it must cut costs and find new revenue sources to survive in a world of soaring oil prices.
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ATA Airlines, the nation&#39;s 10th-largest, filed for bankruptcy protection yesterday, becoming the latest US carrier tripped up by rising fuel costs and fare wars.
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US Airways Group Inc. said yesterday that sharply rising fuel costs in recent weeks have made the bankrupt airline's already dismal financial outlook even more acute.
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Delta Air Lines, United Airlines and  Continental Airlines have all raised their domestic fuel  surcharges, matching a move by American Airlines amid soaring  fuel prices.
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Two of the largest US airlines - American and Southwest - blame record fuel prices for their poor quarterly results.
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Qantas Airways Ltd., Australia&#39;s biggest airline, may raise its fuel surcharge by between A$2 and A$10 per fare to cover some of the A$200 million ($147 million) in increased costs as
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Qantas Airways Ltd., Australia&#39;s biggest airline, raised its fuel surcharge for a second time to help offset soaring jet-fuel costs.
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MONTREAL - Despite a jump of 19 percent in world air traffic this year, airlines are expected to lose as much as $4 billion in 2004 because of high fuel costs, the International Air Transport Association said Monday.
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As air travel woes worsen, their costs in time and money are demanding increased attention.
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The price of plane tickets is about to rise as travellers are forced to pay for the soaring cost of oil.
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British Airways is to increase its fuel surcharge as a result of the continuing rise in the price of oil. The airline said its longhaul surcharge on all UK bookings will rise from Â£6 ($10.
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The global airline industry, battered by record fuel costs, could break even in 2005 if oil prices drop to an average of US$36 a barrel, the industry&#39;s trade group said Tuesday.
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INDIANAPOLIS -- ATA Airlines has become the latest US airline tripped up by rising fuel prices and fare wares. ATA, the nation&#39;s 10th-largest airline, filed for bankruptcy protection Tuesday.
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MONTREAL -- Despite a jump of 19% in world air traffic so far this year, airlines are expected to lose as much as $4 billion US in 2004 due to high fuel costs, says the International Air Transport Association.
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American Airlines&#39; parent AMR Corp. (AMR.N: Quote, Profile, Research) on Wednesday said record-high fuel costs pushed it to a hefty third-quarter loss and warned