Major US airlines spend over $5bn on jet fuel in March
Updated
Updated · Devdiscourse · May 6
Major US airlines spend over $5bn on jet fuel in March
9 articles · Updated · Devdiscourse · May 6
The US Transportation Department said spending jumped 56% from February, while the average price rose 31% to $3.13 a gallon.
Fuel use also increased 20%, worsening the cost surge as geopolitical tensions after US-Israeli strikes on Iran disrupted traffic through the Strait of Hormuz.
The rise adds pressure on global carriers and marks one of the air travel industry's sharpest cost shocks since the Covid-19 pandemic.
With fuel hedging now obsolete, is owning a refinery the only way for airlines to survive?
As the Strait of Hormuz crisis deepens, can strategic oil reserves prevent a global recession?