- Jet fuel prices are rising above pre-pandemic levels, an ominous headwind for airlines plotting a recovery from more than a year of losses. Despite rising demand, the cost of jet fuel has climbed about 70% so far this year alongside rising crude oil prices.
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United Airlines Holdings Inc. forecasted an average price of $2.39 a gallon in the fourth quarter, up from $2.14 in the most recent quarter. The airline paid $2.02 per gallon in the third quarter of 2019.
The carrier s chief executive officer, Scott Kirby, expressed confidence in a statement that his company will be able to keep costs in check as it looks to rebound. United didn t provide earnings guidance for the current quarter or full year.
Rival Delta Air Lines Inc. warned last week that rising fuel costs threaten its fourth-quarter earnings. The Atlanta-based carrier is forecasting a price of $2.25 to $2.40 a gallon for the fourth quarter, compared with $1.94 in the third quarter of 2019.
Each 5 - cent increase in fuel represents $40 million of expense, Delta Chief Financial Officer Dan Janki told investors Oct. 13. But that may not be immediately reflected in higher retail airfares. Delta said there is typically a pricing lag of four to six months.
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