Giovanni Bisignani Barrel Quotations

Each dollar added to the price of a barrel of oil adds $1 billion in costs to the industry.

Oil is once again robbing the industry of a return to profitability, ... Each dollar added to the price of a barrel adds $US1 billion in costs to the industry.

Oil remains the wild card for industry profitability. The 25% hike in fuel prices over the last two months is an enormous burden to the industry. However, the S$ 1.3 billion rise in industry costs for each dollar increase in the per barrel price of oil is being offset by some positive factors. Industry hedging levels are 50%. Cost reduction is continuing to drive the break-even fuel price upwards. And the US domestic yield rose 12.4% in February.