""If prices stayed at this level, it would mean an extra $11 billion in annual expense just for jet fuel. For perspective, in United's best year ever, we made less than $5B.""
""Our plans assume oil goes to $175/barrel and doesn't get back down to $100/barrel until the end of 2027. And there's a part of me that can't help but feel United is playing offense right now with potentially big rewards at the end.""
United Airlines will reduce its scheduled flights by 5% and off-peak flights by 3% in response to rising fuel costs associated with the conflict in the Middle East. CEO Scott Kirby indicated that red-eye flights and those on low-traffic days will be prioritized for cuts. The airline anticipates restoring its full schedule by fall. Kirby noted that sustained high fuel prices could lead to an additional $11 billion in annual expenses, significantly impacting profitability. Despite these cuts, United plans to take delivery of 120 new aircraft this year.
Read at www.businessinsider.com
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