Fuel costs gobble 73 cents on every airline dollar

Fuel costs eat up as much as 73 cents of every airline dollar, the head of the Air Transport Association said Monday.

ATA CEO James May said fuel costs amount to $139 of the current U.S. average air fare of $191. That leaves airlines $52 to cover the rest of their costs. May made his comments before a U.S. Senate committee, adding the airline industry will lose $10 billion this year and its fuel costs will total $60 billion, up $20 billion from 2007.

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