U.S. airlines are projected to lose $2.3 billion this year, according to International Air Transport Association.
The main reason? Jet fuel costs are expected to rise 30 percent over last year.
But wait, you’re just getting the sunny side.
Throw out perennial money-maker Southwest, and the rest of the Top 10 airlines are expected to lose nearly $5 billion this year.
And, that 30 percent rise in jet fuel? It’s based on a Brent crude oil price of “just” $106/bbl.
Jamie Baker of JP Morgan expects the legacy airlines to drop a $7.2 billion dime.
Hey, Gerard Arpey, a $15 bag check fee ain’t gonna cover that at American.
And United, you can talk all you want about not being interested in mergers, but you’d better get interested in doing something different.
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