North American carriers warn on higher fuel price impact

Three airlines issued revised guidance today all referring to the impact of the rising oil price on earnings. United Airlines’ update regarding its financial outlook for third quarter 2023, noted that since jet fuel prices have climb 20% since mid-July 2023, the company’s all-in fuel price is now expected to be between $2.95 to $3.05 per gallon. United continues to expect third quarter 2023 capacity, operating revenue and CASM-ex- fuel to be consistent with guidance provided in July. Southwest Airlines noted that barring significant unforeseen events and based on current trends, it continues to expect solid profits in third quarter