Business Services Industry
Jet-fuel price hurdle gets higher for British Airways.
Knight Ridder/Tribune Business News, November, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Nov. 9--After a summer of discontent BA boss Rod Eddington is facing a winter of woe as the cost of jet fuel spirals.
Eddington yesterday admitted that BA's fuel costs are moving ever upwards -- one of the City's worst-kept secrets -- and said the bill would be 20 million pounds higher than expected.
"Let's hope the fuel price doesn't go up any more," he said. "But none of the forward prices we see on oil are helpful."
BA has currently forward-bought 75 percent of its fuel through to March and a further 45 percent through to December 2005. It will need to buy the rest of its oil on the open market
BA's plight is part of a wider problem as indicated by rising costs...
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