Airline Fuel Bill Over USD$97 Billion

Airlines globally will pay more than USD$97 billion for fuel in 2005 but carriers in Europe could break even while those in Asia are expected to make money, IATA said on Monday.

The International Air Transport Association (IATA) announced a revised industry loss forecast of USD$7.4 billion for 2005 with oil prices at sustained record levels. That figure is up from USD$6 billion in May.
“Oil is once again robbing the industry of a return to profitability, Giovanni Bisignani, IATA’s Director General, said. “Cost reduction and efficiency gains have never been more critical.”

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