airlines battle fuel costs with higher fares
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Airlines battle fuel costs with higher fares

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleAirlines battle fuel costs with higher fares

Dubai - Arabstoday

Airlines around the world will have to increase fares by about five per cent to offset the massive 50 per cent surge in fuel prices over the last 12 months, the chief economist of the International Air Transport Association (IATA) said. \"With no sign of a significant decline in oil prices that are staying stubbornly above $100 a barrel, airlines are fighting to stay profitable and have pushed up ticket prices in order to recoup costs. They have had no choice but to hike fares,\" Brian Pearce told Gulf News. \"We are looking at a fare increase of at least five per cent. We have seen a five per cent increase in unit costs because of the rise in jet kerosene and that is with the [airline] industry having hedged 50 per cent of this year\'s fuel bills. So we are going to see that five per cent reflected in airfares,\" he added. Airline chiefs echoed the sentiment. \"We may have to tend to our costs if oil prices go up to $150-$160 per barrel. And as long as the fuel stays at $100 per barrel plus, the whole industry is going to face real problems,\" Tim Clark, Emirates airline president, said, adding that the carrier has already increased airfares by 15 per cent this year. Alan Joyce, chief executive of Qantas, said the industry will witness further price increases this year, The Australian carrier has gone through a number of fare increases and fuel surcharge increases so far this year, he said. \"The increases have still not recovered the additional fuel costs,\" Joyce added.

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

airlines battle fuel costs with higher fares airlines battle fuel costs with higher fares

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 08:32 2011 Monday ,25 July

Sabri accuses Yusri in Souad Hosni’s murder

GMT 12:07 2014 Monday ,03 February

Home design ideas

GMT 11:20 2017 Thursday ,02 March

Mexico central bank cuts growth outlook over Trump

GMT 08:31 2017 Tuesday ,28 November

Bangladesh upholds death sentence for 139 soldiers

GMT 14:33 2017 Thursday ,20 April

US defense secretary vows support for Egypt's Sisi

GMT 16:12 2017 Wednesday ,20 December

Myanmar bars UN rights investigator just before visit

GMT 08:21 2017 Wednesday ,30 August

United Technologies near deal to buy Rockwell Collins

GMT 18:27 2017 Friday ,21 April

ARCO condemns targeting of ERC convoy in Somalia
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle