Energy

Airlines bet surge in travel will help offset fuel costs

0


American Airlines planes at LaGuardia Airport

Leslie Josephs | CNBC

Travel demand has bounced back faster than expected this year, major airlines said Tuesday, a welcome trend for an industry battered by Covid and a sign that carriers expect to pass along higher fuel prices and other costs on to customers.

U.S. jet fuel prices last week surged to 2008 highs, propelled by Russia’s invasion of Ukraine, which sparked worries about scarcer crude supplies as countries sanctioned the oil producer. Though jet fuel prices have eased, they’re still up 35% so far this year.

The mix of stronger demand and higher costs is promising more expensive tickets, which were already on the rise before Russia’s…



Source cnbc.com

0 0 votes
Article Rating

Federal Reserve expected to raise interest rates in week ahead

Previous article

Tesla hikes car prices in the U.S., China after Musk inflation warning

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Energy