Budget Airlines Under Serious Strain From Sky-High Fuel Costs: Flair CEO
Flair Airlines CEO Len Corrado is feeling the heat of high jet fuel prices, as he steers the budget carrier away from a recent strategy targeting business travellers and the United States. Corrado, who stepped into the top spot in February, says aviation fuel typically makes up nearly a third of Flair’s costs—and the price of that fuel has shot up by more than 110 percent from a year earlier.
TL;DR
- Flair Airlines CEO Len Corrado is grappling with soaring jet fuel prices.
- Jet fuel costs have increased by over 110 percent compared to the previous year.
- Aviation fuel represents almost a third of Flair's operating costs.
- Flair is reducing its Canada-U.S. flight numbers by more than 50 percent.
- The airline is expanding its presence domestically and in the Caribbean.