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Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
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Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
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Airlines are set to report to investors how they fared during a bustling, stormy and expensive summer season, starting when Delta Air Lines releases its third-quarter earnings Thursday.
The third quarter includes the busy summer travel season, but this period was more expensive for airlines to operate than last year, ramping up pressure on airline executives to show they can grow profits amid higher costs. Average jet fuel prices in the July-September period were 35 percent higher than in the same three months last year, according to data from S&P Global Platts. Fuel is generally airlines' second-largest expense after their employees' salaries.
Airline stocks have lagged the broader market, despite strong demand for air travel. The NYSE Arca Airline index, which tracks 15 carriers, is down 14 percent so far this year, compared with the S&P 500's 7 percent gain.
U.S. carriers have scrambled to raise revenue in the past few months as fuel prices rose. JetBlue Airways raised the fee to check a first bag by $5 to $30, a move that United Airlines, Delta and American Airlines followed. A relief for airline executives — but perhaps not consumers. President Donald Trump signed legislation last week to fund the Federal Aviation Administration, but lawmakers scrapped a provision that would have established federal oversight of airline fees.
Others, including American, cut certain routes to focus on more profitable flights. Airlines' other challenges included a stormy summer that led to the cancellation of thousands of flights, particularly from Hurricane Florence, which hit the Carolinas in early September.
Here are a few things to watch in U.S. airline earnings: