"Delta Air Lines' fuel expenses were up $332 million in the first quarter, compared to the same period last year. Chief Operating Officer Dan Janki stated that owning an oil refinery is expected to save $300 million in the next quarter, helping the airline contend with rising fuel costs."
"United Airlines reported fuel expenses were up by $340 million, a 12.6% increase from the same period last year. CEO Scott Kirby emphasized that the airline plans to recover 100% of fuel costs, indicating that increased expenses will be passed onto passengers."
Oil prices have surged 41% since the Iran war began, reaching about $107 a barrel, causing airlines to face rising fuel costs. Jet fuel prices, a major expense for airlines, are increasing even faster. Delta Air Lines reported a $332 million rise in fuel expenses, while United Airlines saw a $340 million increase. Both airlines are reducing capacity and planning to pass costs onto passengers to manage the financial impact of rising fuel prices.
Read at www.businessinsider.com
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