United Kingdom
United States
Asia Pacific
Airlines seeking federal help to cut $10 billion losses
There was growing enthusiasm for a one-year moratorium from the federal tax on jet fuel to save the ailing US airlines $600 million.
Industry officials are making their case to the US Congress this week at Senate hearings.
US airline losses this year could reach $10 billion, estimated the Air Transport Association.
US Transportation Secretary Norman Mineta said the rebate idea was worth looking at but added the Bush Administration has yet to formulate a policy on tax breaks for airlines.
“There simply is no rational business plan we can continue to operate under with fuel at the price it is today,” Jim May, head of the Air Transport Association, told CNBC.
The federal gas tax is set at 4.3 cents a gallon on jet fuel.
If fuel prices had stayed where they were last year, the airlines would have been profitable, according to consultant Mike Boyd.
Report by David Wilkening
Related News Stories:
David
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled