Surge in fuel prices set to drive up airfares [CNBC]
Delta Air Lines, Inc. (DAL)
Last delta air lines, inc. earnings: 4/22 07:00 am
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Source: CNBC
Airlines are paying more for fuel, and passengers may soon pay more to fly. A spike in fuel prices, generally airlines' biggest cost after employee pay, is eating away at carriers' profits. When (the fuel price) increases, the cost of air travel increases, American Airlines' CEO Doug Parker said on a call with analysts on Thursday. So I do believe that consumers will pay more. Parker said he does not expect those higher fares to hurt demand significantly, however. Low-cost Spirit Airlines said it raised fares last week by $3. American Airlines on Thursday trimmed its forecast for full-year earnings due to costlier fuel . The world's largest airline now expects to earn $5 to $6 per share this year, down from the $5.50 to $6.50 it said it expected in January. The airline said its fuel was about 25 percent more expensive compared with last year, an increase that it said added to $412 million to its costs. Competitors Delta Air Lines and United Airlines
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DAL
Earnings
- 4/10/24 - Beat
DAL
Sec Filings
- 4/24/24 - Form 4
- 4/24/24 - Form 144
- 4/23/24 - Form 4
- DAL's page on the SEC website