Tuesday December 21, 2004

Airlines need $36/bbl oil to break even

peakoil.com -> bbc.co.uk

The world's airline industry is set to rack up losses of almost $5bn (?2.6bn, 3.6bn euros) this year, global airline body IATA [International Air Transport Association] has forecast. It also warned that the industry would only climb back into profit next year if oil prices fell. If oil prices remain around the $40 a barrel level, industry losses will rise to $5.3bn in 2005, the IATA added.

The price of a barrel of oil needs to drop to $36 for airlines to break even, while a fall to $30 a barrel would see profits soar to $5bn, Mr Pearce [IATA chief economist] said.

(2004-12-21 10:40:11 SGT) [Energy] Permalink

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