Executives from American Airlines, United Airlines and Southwest Airlines said Wednesday that higher jet fuel prices are prompting carriers to adjust capacity and closely monitor flight schedules.
The global average jet fuel price rose 6.1% week over week to $181.46 per barrel last week, according to the International Air Transport Association (IATA).
Speaking at Morgan Stanley’s 14th Annual Laguna Conference, American Airlines Chief Financial Officer Devon May said fourth-quarter jet fuel prices are running about $1 per gallon above what the airline projected in July, adding roughly $1 billion to its fuel bill.
“Overall for the third quarter…
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