Major U.S. airlines say they are not expecting a significant dent in quarterly profits despite soaring jet fuel costs tied to the war in the Middle East adding hundreds of millions of dollars in expenses.
Executives from Delta Air Lines, American Airlines and United Airlines told investors Tuesday that strong ticket sales are helping offset those higher costs, with all three carriers reporting record bookings this year.
Jet fuel prices have jumped since the war began on Feb. 28 and strained global oil supplies, particularly around the Straight of Hormuz, a narrow waterway through which roughly one-fifth of the world’s oil passes. The volatile crude oil price that is driving gasoline prices higher has had the same effect on jet fuel, which is one of the airline…
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Source www.pbs.org
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