Matt Molnar
2008-03-11, 12:53 PM
AP, via MLive.com:
Northwest Airlines CEO Doug Steenland: $105 oil a 'serious budget-breaker' (http://www.mlive.com/business/index.ssf/2008/03/northwest_airlines_doug_steenl.html)
by Joshua Freed | The Associated Press
Tuesday March 11, 2008, 8:35 AM
MINNEAPOLIS (AP) -- Northwest Airlines CEO Doug Steenland called $105 oil a "serious budget-breaker" on Monday and warned that high fuel costs are a "difficult financial challenge" for the carrier that emerged from bankruptcy just nine months ago.
Oil jumped above $108 a barrel on Monday. Fuel is now the biggest expense at Northwest Airlines Corp. and most other airlines. Northwest is Michigan's largest passenger air carrier, with a major hub in Detroit.
Steenland said if oil remains above $100 a barrel, it will cost Northwest $1.7 billion more this year than it planned for. [Full Article (http://www.mlive.com/business/index.ssf/2008/03/northwest_airlines_doug_steenl.html)]
Northwest Airlines CEO Doug Steenland: $105 oil a 'serious budget-breaker' (http://www.mlive.com/business/index.ssf/2008/03/northwest_airlines_doug_steenl.html)
by Joshua Freed | The Associated Press
Tuesday March 11, 2008, 8:35 AM
MINNEAPOLIS (AP) -- Northwest Airlines CEO Doug Steenland called $105 oil a "serious budget-breaker" on Monday and warned that high fuel costs are a "difficult financial challenge" for the carrier that emerged from bankruptcy just nine months ago.
Oil jumped above $108 a barrel on Monday. Fuel is now the biggest expense at Northwest Airlines Corp. and most other airlines. Northwest is Michigan's largest passenger air carrier, with a major hub in Detroit.
Steenland said if oil remains above $100 a barrel, it will cost Northwest $1.7 billion more this year than it planned for. [Full Article (http://www.mlive.com/business/index.ssf/2008/03/northwest_airlines_doug_steenl.html)]