Saturday August 12, 2006

Soaring oil prices push up airline surcharges

business-times.asia1.com.sg :

Airlines are raising fuel surcharges or warning of further hikes because oil prices are back on the boil. Oil prices hit US$78.64 a barrel in London after BP said it was shutting down the biggest US oil field in Alaska. Airlines paid a total of US$92 billion for fuel in 2005, an increase of 50% from the previous year.

Jet fuel has now become the single biggest expense for airlines and the sector expects to post an aggregate loss of US$3.0 billion in 2006 despite increased traffic. Almost all carriers except the budget airlines have passed the extra cost on to passengers.

See also :

1. Airlines worldwide set to lose $3 billion this year
2. $100 oil would threaten airlines: IATA economist

(2006-08-12 15:34:44 SGT) [Energy] Permalink

Most popular blog postings on lowem.log :

1. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
2. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
3. 2010 Honda Civic Hybrid preliminary specifications released
4. Singapore SIBOR rate falls to 0.69% in Jan 2009, lowest since Apr 2004
5. How to insert currency exchange rates into Google Spreadsheets
6. Singapore : Nuclear power not ruled out
7. Live spot gold price quotes chart on COMEX
8. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option

Featured articles on lowem.log :

1. 2010 Honda Civic Hybrid preliminary specifications released
2. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
3. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
4. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
5. New efficient nanotech materials may boost enhanced geothermal power systems
6. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
7. Singapore property market recovery seen as private home sales surge 52% in Jul 2009
8. Singapore SIBOR rate falls to 0.69% in Jan 2009, lowest since Apr 2004