Soaring Fuel Costs to Spur Airline Mergers -Qantas
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Record high oil prices are likely to trigger a rash of airline mergers and tie-ups, accelerating a wave of consolidation in the aviation sector, the head of Australian carrier Qantas said on Wednesday.
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Shares in Australian flag carrier Qantas have jumped more than four percent amid expectations a takeover consortium is finally ready to formally table a multi-billion dollar offer for the airline.
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Virgin Blue Holdings on Monday followed Qantas Airways and raised the fuel surcharge on its tickets as a result of sky high oil prices.
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American Airlines expects soaring jet fuel prices to push its expenses up more than $1 billion in 2004 from last year&#39;s level, parent AMR Corp.
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The best may be to come, as some of the biggest airlines flirt with mergers that could permit them to cut costs and raise fares even further.
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Virgin Blue Holdings Ltd., Australia&#39;s second-biggest airline, increased a surcharge on all tickets as the cost of jet fuel soars.
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MELBOURNE Shares of Qantas Airways, Australia&#39;s biggest airline, on Thursday plunged to a 12-month low amid concern that surging fuel prices would erode earnings and after the company reported earnings that missed analysts&#39; forecasts.
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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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Air New Zealand announced Thursday that it will increase its surcharge on air fares from early next month because of the rising cost of jet fuel.
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As if on cue, airlines are responding to oil's latest surge by pushing ticket prices even higher
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Australian buyout target Qantas Airways  Ltd.  raised its annual profit forecast for the third  time in six months as fuel prices ease and demand for travel  increases.
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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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Qantas could move as many as 7,000 jobs overseas to save costs, according to The Australian newspaper.
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Australian flag carrier Qantas on Friday raised fuel surcharges on domestic and international tickets, blaming the skyrocketing price of crude oil prices.
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QANTAS should open up its share register rather than seek another airline owner if British Airways ever decided to sell its stake, Qantas chief executive Geoff Dixon said yesterday.
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BRISBANE, Australia Virgin Blue, Australia&#39;s second-biggest airline, has increased surcharges on all tickets as the cost of jet fuel soared.
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QANTAS will be at least $196 million out of pocket this year because of rocketing fuel prices, even with surcharges. Fuel costs for international and domestic flights had soared $560 million above last year, the flag carrier said last night.