Biggest US airlines spent $1.2B more on fuel in Q1
4 hours ago
- #fuel costs
- #airlines
- #aviation industry
- The six largest US airlines spent an additional $1.2 billion on fuel in Q1 2023 compared to Q1 2022, with Delta, United, American, Southwest, Alaska, and JetBlue reporting increased costs.
- Airlines expect jet fuel prices to rise to about $4.26 per gallon in Q2 2023, up from $2.80 in Q1, with Delta forecasting a $2 billion increase in fuel costs for the quarter.
- Carriers are attempting to recapture fuel costs through higher fares, fewer flights, and increased baggage fees, aiming to recover up to 50% of the additional expenses, but fear impacting demand.