U.S. airline giants are reportedly bracing for increased costs in the near future as the price of jet fuel continues to surge.
Jet fuel prices were up 30% from July 5 during Labor Day weekend, said trade association Airlines for America.
The ongoing fuel price issue caused major carrier Southwest to raise its expected quarterly revenue loss from 3% to between 5% and 7%.
Likewise, Alaska Airlines said this quarter’s rising fuel costs will cut into its pretax margins.
