If You Exclude How Expensive Fuel Is, Airlines Maybe Did OK...
... Well actually not really. But you can't just ignore the fuel issue (like asshat economists tend to do when discussing "upward price movement" and other such nonsense) so if you go ahead and scribble that back in, airlines have had a rough go of it and then this fucking volcano slaps them in the face with nearly $2 billion in lost revenue. Blizzards on the East Coast, Katrina, El Nino, volcanoes, what the fuck else does the Earth have to say to you before you concede and accept that it is pissed off right now?
Anyway. Airlines. They're fucked. (Reuters):
The first wave of financial results for 2010 have been mixed. Carriers are reporting improved revenue and effective cost controls, save for stubbornly high fuel expenses.
Airline executives also worry that the slow pace of economic recovery may limit future earnings, despite rising fares and passenger demand.
More immediately, airlines are trying to clear a backlog of millions of passengers stranded last week after a volcanic eruption in Iceland paralyzed global air travel.
The International Air Transport Association (IATA) estimates the crisis cost airlines revenues of more than $1.7 billion by Tuesday.
I actually gave the airlines a metric shit ton of money last year and part of this year, and will continue to do so as long as I can afford to. Does my $250 round-trip to Dallas do anything for United or whomever the hell I took that came up cheapest on Travelocity? Probably not. Especially not after this volcano crap.
Also according to the IATA, aviation jet fuel prices are up 54% for the year. FAP goes one more blow to airlines and, subsequently, jet fuel refiners.
See you at SFO, bitches. Gimme the discount seats and cut all the free drinks you want, just get me where I'm going and I'm cool with it.