Airlines take a hit on fuel
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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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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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Airlines apparently pushed through a fare increase yesterday after months of unsuccessful attempts to raise prices, helping to offset record-high jet-fuel costs.
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The world&#39;s major airlines are expected to rack up about $US4.8 billion ($A6.33 billion) in losses this year and will climb back to profit next year only if oil prices fall, the top industry body warned today.
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Regional airline Rex has joined Qantas and Virgin Blue in deciding to increase the fuel surcharge paid by passengers in response to high oil prices.
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This week's record-high crude oil prices casts a shadow over a tenuous recovery in the U.S. airline industry, where top carriers have less protection than they did a year ago from devastating spikes in energy prices.
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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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Both airlines took advantage of strong travel demand and higher ticket prices, but their shares dropped as crude oil prices rose.
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The low-cost airline reported a loss of $79 million, hurt by soaring fuel costs that have battered the industry.
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Fuel costs for international and domestic flights have soared $560 million above last year, the national carrier said yesterday. Hedging, the means by which airlines insure against rising fuel costs, had fallen
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Major U.S. airlines on Tuesday rolled back a fuel surcharge increase aimed at offsetting soaring oil prices as consumers balk at higher fares, and worries over the health of the economy grow.
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Soaring fuel prices and slowing economic growth are likely to wipe out much of the airline industryâs profits next year, despite steady increases in global demand for air travel.
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Scarborough, Tobago - The global airline industry would lose about $5 billion (R31 billion) this year, and more bankruptcies of carriers were likely, due in part to rising fuel costs, an International Air Transport Association official warned this week.
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BUDGET airline Ryanair will fail to make a profit this winter as its aircraft fuel bill soars by as much as 50% after it admitted it had not taken action against the spiralling oil price.
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LONDON Air France and its unit KLM Royal Dutch Airlines, as well as British Midland Airways, announced new fare surcharges on Wednesday as a result of higher fuel costs. They follow similar moves by British Airways and Deutsche Lufthansa.
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Three airlines â Northwest, JetBlue and AirTran Holdings â posted fourth-quarter losses on Tuesday as rising fuel costs erased gains from fare increases.
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Soaring fuel costs continued to cast a shadow over British Airways today, despite better-than-expected half-year results from the airline.