USD 62.9451

+0.13

EUR 70.5552

-0.12

BRENT 63.6

+0.02

AI-92 42.25

+0.01

AI-95 45.75

+0.01

AI-98 51.34

0

Diesel 46.16

-0.01

13

Oil Prices Impedes Airline Recovery

sky-rocketing jet fuel prices are cramping the recovery of Australian air companies

In the opinion of analysts, sky-rocketing jet fuel prices are cramping the recovery of Asian carriers after last year's unprecedented travel slump caused by the SARS outbreak.
Australia's Qantas Airways and Air New Zealand have tried to impose a passenger ticket surcharge from Monday, and it was the sign that record-high oil prices have the impact on the industry.
"Fuel represents a large proportion of an airline's operating cost," Ian Thomas, senior consultant at the Center for Asia Pacific Aviation in Sydney said.
According to Qantas CEO Geoff Dixon, US dollar price of jet fuel today, which is almost 60 percent higher than it was 12 months ago, also influents on the cost to their business.