"Airlines canceled more than 75,000 flights this summer over a 10-day period, according to the aviation analytics firm Cirium. US carriers accounted for the four largest reductions."
"About 70% of the removed seats, or 33,000 flights, came from Spirit Airlines. The budget airline shut down last Saturday after negotiations for a federal bailout fell apart."
"When Spirit announced it was winding down operations, it cited 'the recent material increase in oil prices and other pressures on the business.'"
"Many airlines are raising ticket prices and baggage fees to offset higher fuel costs, as jet fuel is typically an airline's second-highest expenditure after labor costs."
Over a 10-day period, airlines canceled more than 75,000 flights, removing 9.3 million seats globally. Spirit Airlines accounted for 70% of these cancellations, shutting down after failed bailout negotiations. United Airlines, Delta Air Lines, and American Airlines also significantly reduced their schedules. Rising jet fuel prices, which peaked at over $200 a barrel, have pressured airlines to cut flights and raise ticket prices. Many airlines are adjusting their operations to manage increased costs and avoid financial losses.
Read at www.businessinsider.com
Unable to calculate read time
Collection
[
|
...
]