Fuel price turbulence

Corporate profiles


Major airlines’ balance sheets are feeling the strain from surging oil prices and increasingly fierce competition from budget carriers. In 2004, jet fuel prices surged 21%, with the New York Harbour contract reaching an all-time high of $1.68 a gallon in October.

Airlines with inadequate or non-existent hedging programmes are under particular pressure. Just last month, US airline Delta told the Securities and Exchange Commission (SEC) that it expects to post a substantial net loss in 2005,

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