United Airlines projects 2008 fuel costs soaring to US$9.5 billion
June 17, 2008, Chicago - United Airlines says its 2008 fuel bill is on pace to hit US$9.5 billion based on current prices, or more than $3.5 billion higher than last year.
Chicago – United Airlines says its 2008 fuel bill is on pace to hit US$9.5 billion based on current prices, or more than $3.5
billion higher than last year.
America's No. 2 carrier made the forecast in a statement submitted in Washington to back legislation aimed at addressing the
volatility in oil trading.
The subsidiary of UAL Corp. also estimates that its passenger revenue for the second quarter will increase by between four per
cent and five per cent over a year ago.
It says in an investor update that it will take significant second-quarter charges for impairment, severance and other items in
connection with cutbacks it announced this month.
Chicago-based United and other airlines are under severe financial pressure from record oil prices.
Canada's No. 1 airline Air Canada says it will cut 2,000 jobs by the end of the year as it reduces capacity to deal with rising fuel