US airlines have begun paring back flight plans because of soaring fuel prices, reports Bloomberg News.
Alaska Air will trim flying five per cent in the first half in response to 'the sharp rise in fuel costs.'
Allegiant Airlines plans to reduce second-quarter capacity between five per cent and ten per cent.
The carrier will trim flight frequency in weaker demand times.
The industry concern is that excessive gasoline prices could strain consumers' spending power and lead to slower demand for leisure pursuits.
Higher prices also raise costs for airlines, making it difficult to maintain profits if they can't pass the expenses along to customers.
Spot jet fuel prices for delivery in New York harbour have jumped 76 per cent to US$4.06 a gallon, the highest since 2008.
In January US airlines were predicting a cost of $2.50 a gallon.
SeaNews Turkey
Alaska Air will trim flying five per cent in the first half in response to 'the sharp rise in fuel costs.'
Allegiant Airlines plans to reduce second-quarter capacity between five per cent and ten per cent.
The carrier will trim flight frequency in weaker demand times.
The industry concern is that excessive gasoline prices could strain consumers' spending power and lead to slower demand for leisure pursuits.
Higher prices also raise costs for airlines, making it difficult to maintain profits if they can't pass the expenses along to customers.
Spot jet fuel prices for delivery in New York harbour have jumped 76 per cent to US$4.06 a gallon, the highest since 2008.
In January US airlines were predicting a cost of $2.50 a gallon.
SeaNews Turkey
