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Article: Jump in jet fuel costs has major airlines' profits evaporating in fumes.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- October 10, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Todd Pack, The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Oct. 10--Big airlines were already in trouble, beaten down by high operating costs and a bruising battle with cheap-ticket challengers such as Southwest and JetBlue.
Now a jump in the cost of jet fuel -- prices at the pump have nearly doubled in the past year -- is rattling even the fittest airlines and threatening to put some frailer ones out of business.
That's creating a hardship for every airline, but it's especially hard on older, traditional airlines that already were losing billions of dollars a year.
They need to come up with millions of dollars ...