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Jul 7
What Can Airlines do to Save Money on Fuel?
Rob Willers July 7, 2006
Know More:
With Oil hitting an all time high the other day at $75.09 a barrel it is going to be hard for airlines to cope with this.  World issues can also play havoc on the market.  Oil spiked after North Korea test launched missles, the continued nuclear situation with Iran, and supply distrubtions in Nigeria. 

United Airlines emerged from bankruptcy planning to pay a low amount for jet fuel, however that senario will probably never happen.  US Airways said that their second quarter fuel is 41% hedged between the price of $2.15 and $2.20 per gallon.  Southwest Airlines has their fuel hedged for the next few years.  But many airlines do not have the money up front to pay for the fuel.  And so the struggling carriers are forced to pay for higher fuel. 

So how do carriers overcome higher fuel prices? 

First they raise prices to off set as much as possible.  Southwest, the nation's largest low cost carrier, has raised fares several times this year and they even have fuel hedged.  Their lowest last minute fare is up $20 one way. 

boeing-business-jet3.jpgIf you have some extra cash, and that's a rarity in the aviation industry, you start to equip your aircraft with winglets.  This pieces can improve fuel savings, lift, and lessen drag.  American, Continental, and Southwest are some of the more notable airlines that can be seen with winglets. 

If you are American Airlines you tell your pilots to taxi on one engine to the gates.  You keep as much paint off your planes as possible to keep weight down.  You lower your baggage limits to keep weight down again.  And you tell employees they are responsible for saving on fuel costs. 

Whatever airlines try to do to save on fuel costs, if prices continue to rise the way they are and remain high, there might be very little that airlines can do. 

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