22 July 2010 21:54 [Source: ICIS news]
HOUSTON (ICIS news)--US airline carriers have consumed more jet fuel as the industry has added capacity on its way to recovery, an analyst said Thursday.
The industry was working to stabilise air service and traffic levels after a tumultuous year, said vice president of the Air Transport Association (ATA) David Castelveter.
Jet fuel consumption increased year over year for the first time in 2010 during the month of May, according to the ATA. US airlines burned 2.2% more jet fuel than May 2009 with a total of 1.47bn gallons used. This translated into $3.426bn in cost for jet fuel in May. In April, fuel consumption was 2.2% lower than April 2009.
The US accounts for 35% of global jet fuel consumption, the ATA said.
Increased air traffic and increased revenue per passenger mile for US airlines caused the spike in fuel consumption..
Passenger revenue has taken off, gaining 25% in June 2010 compared to the same time last year, marking the sixth consecutive month of revenue growth for the US airline industry, according to the ATA. In addition, about 1.4% more passengers traveled on US airlines in June year over year. International passenger revenue was up 38%, led by trans-Pacific markets with gains of 58%.
Finally, the ATA reported that cargo traffic climbed 22% year over year for May 2010 largely a result of increased international trade. To discuss issues facing the chemical industry go to ICIS connect
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