Airline earnings are grounded
To cut down on weight and save fuel, Charles Lindbergh flew the Atlantic in 1927 with neither a radio nor a parachute. Half a century later, airlines are still trying desperately to conserve fuel. The reason right now is that the average cost of jet fuel has soared from 400 to 850 per gal. in the past twelve months. This year the twelve largest U.S. carriers will spend almost $10 billion, about 30% of their operating budgets, for jet-engine fuel. That is an increase of 20% over last year. Fuel has become so expensive that six of the...
To continue reading:
or
Log-In
