High airfares could stick around even if jet fuel prices fall
Airlines say ticket prices may stay elevated because many seats were already sold before fuel costs jumped, limiting how quickly fares can fall.
- Travelers shopping for holiday flights encountered the highest airfares in a decade on Friday, with round-trip domestic tickets for Thanksgiving and Christmas averaging $402 and $452, respectively, according to booking company Hopper.
- Fighting in the Middle East and Ukrainian strikes on Russian refineries have curtailed production, pushing jet fuel prices to $4.53 a gallon on Sept. 17, according to the Argus index.
- American Airlines faces an additional $1 billion in fourth-quarter fuel costs, Chief Financial Officer Devon May said; every penny increase per gallon adds about $10 million to the carrier's quarterly bill.
- About 35% of United's tickets for the final three months were already booked before fuel prices spiked, Chief Financial Officer Mike Leskinen noted, preventing the carrier from retroactively raising those fares.
- Experts suggest airfares may stay high even if fuel costs fall. Brett House, an economist at Columbia Business School, noted such fluctuations make airlines cautious, while Stephen Treanor from California State University, Chico warned of sustained high prices.
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El Vocero de Puerto Rico
Independent EspañolTravellers could continue to pay high air fares even if oil and airline fuel prices fall, according to US experts and airlines.
High airfares could stick around even if jet fuel prices fall – WTOP News
Travelers could be stuck paying high airfares even if oil and jet fuel prices fall, major U.S. airlines and industry analysts say. The price of jet fuel shot up after the Iran war began and retreated sharply in the spring before surging again as the summer went on. Such fluctuations make it harder for airlines...
Associated Press News
High airfares could stick around even if jet fuel prices fall
Travelers could be stuck paying high airfares even if oil and jet fuel prices fall. Major U.S. airlines and analysts say fluctuating fuel costs make it hard to plan ahead.
Passengers who expect airline tickets to be cheaper with lower fuel prices may have to wait. Airlines set their capacity and fares months before, and rapid fluctuations in fuel prices make it difficult to adjust prices immediately, according to Mediafax. Fuel prices for aircraft rose sharply after the outbreak of war [...]
Soaring Fuel Prices Dim End-of-Year Outlook for Major U.S. Airlines
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