Political Revolt Spells Bad News for Airlines in the Middle East and Beyond | Aviation International News

Political Revolt Spells Bad News for Airlines in the Middle East and Beyond

No one can say where, when or how the rolling political crisis in North Africa and the Middle East will end, but it already seems clear that it doesn’t spe

Egypt’s political revolution has already severely affected the country’s economy, forcing flag carrier EgyptAir to cut its fleet by 40 percent and calling into question whether it will now take all its planned deliveries of new Airbus A330 jets. [Photo: Airbus]

By Charles Alcock • Managing Editor

February 25, 2011

No one can say where, when or how the rolling political crisis in North Africa and the Middle East will end, but it already seems clear that it doesn’t spell good news for the air transport industry.

The top anxiety for world airlines is the rising cost of jet-A fuel. Crude oil prices hit a two-and-a-half-year high of $110 per barrel on February 23 due to concerns about supplies being cut in the wake of violence in Libya. Going back to January, when the scale of the regional unrest was not fully apparent, jet-A prices had already risen 40 percent above where they had been at the start of 2010, increasing to around $2.75 per gallon. According to IATA fuel statistics, in the week commencing February 21 the average price per gallon had already crept up to $2.84.

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