American Airlines Files Fare Increase as Crude Oil and Jet Fuel Prices Skyrocket
November 01 2007 - 7:00AM
PR Newswire (US)
FORT WORTH, Texas, Nov. 1 /PRNewswire-FirstCall/ -- American
Airlines said today it has filed fare increases of $10 one way and
$20 round trip in an effort to recover some of the costs associated
with recent large increases in the price of crude oil and jet fuel.
Only fares in the continental United States are affected by these
increases. Just since August, average spot market crude oil prices
have risen by nearly $14 a barrel. That increase translates into
more than $1 billion of additional annual expense for American.
Crude oil prices on the spot market averaged $85.66 per barrel for
all of October, but closed at $94.53 a barrel just yesterday -- the
highest of any day in October. Since January 2007, refined jet fuel
prices on the spot market have risen nearly 44 percent. Current AMR
Corp. releases can be accessed on the Internet. The address is
http://www.aa.com/ DATASOURCE: American Airlines, Inc. CONTACT: Tim
Smith, Corporate Communications of American Airlines,
+1-817-967-1577, or Web site: http://www.aa.com/
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