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“March 20 (Reuters) - United Airlines said on Friday it would cut its scheduled flights by 5% in the second and third quarters, planning for prolonged higher oil prices after the Iran war sent jet fuel costs soaring, even as strong travel demand helps U.S. carriers raise fares and cushion the hit.
Chief Executive Scott Kirby said in a staff memo the airline is preparing for oil to rise as high as $175 a barrel and stay above $100 until the end of 2027. United's annual fuel bill would rise by about $11 billion, more than twice the profit in its best year, if prices stay at those levels, Kirby said.”
www.reuters.com
Well, there's a Friday night surprise.
Chief Executive Scott Kirby said in a staff memo the airline is preparing for oil to rise as high as $175 a barrel and stay above $100 until the end of 2027. United's annual fuel bill would rise by about $11 billion, more than twice the profit in its best year, if prices stay at those levels, Kirby said.”
United Airlines to cut more flights as it eyes oil above $100 through 2027
United Airlines is cutting more unprofitable flights over the next two quarters as it prepares for a prolonged period of high jet fuel prices due to the Iran war, even as strong travel demand has allowed U.S. carriers to raise fares.
Well, there's a Friday night surprise.