Could he be right? We hope so, because Ray Neidl, the hard-working Calyon Securities analyst, thinks that "the
worst is past for US airlines." This would be a very good thing, because we have just learned that the US airline industry paid out $4.1 billion for jet fuel in July, up 72% from the same month last year. Consumption was relatively flat at 1.11 billion gallons. The cost for a gallon of jet fuel rose 77% to $3.69 from $2.09 last year, the Bureau of Transportation Statistics said. BTS, a part of the Transportation Department, said that, including international carriers, fuel consumption fell 1% to 1.61 billion gallons with a global-wide fuel bill of $6.16 billion, up nearly 80%, year on
year.
Has the worst for airlines passed?
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Ray's point of view is certainly music to my ears. With oil now trading at $102/ barrel and the US dollar gaining some traction, maybe the airlines will have a bit of breathing room.
Thanks for taking the top out to write this good article.
I was just talking to my older sister about this the other day. I also seen something on that over at the doto web site. Isnt it humorous how these things show up in waves. to be truthful, it is sort of daunting.
folks were battling this over at the puntz discussion board. it was in the first stages to turn out to be a hot discussion.