Business
United Airlines Cuts Routes, Predicts $100-Plus Oil Prices All Year
United Airlines Chief Executive Scott Kirby said the carrier is cutting certain routes due to high oil prices pushing up the cost of jet fuel, and the airline is assuming the price of crude stays above $100 a barrel through 2027.
The airline will cancel certain redeyes and flights on Tuesdays, Wednesdays and Saturdays, according to a memo to staff on Friday. United has also suspended flights to Tel Aviv and Dubai.
If jet-fuel prices stay at their current level, Kirby said it would cost United an extra $11 billion annually. He added that the airline is assuming oil prices will reach $175 a barrel and won’t go back down to $10 until the end of 2027. “There’s a good chance it won’t be that bad,” he wrote. “There isn’t much downside for us to preparing for that outcome.”
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