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.
Flair Airlines CEO Len Corrado is facing difficulties due to a significant increase in jet fuel prices, which have more than doubled in the past year and account for nearly one-third of the airline’s expenses. The company is pivoting away from targeting business travelers and the United States, reducing U.S. flight numbers by over 50 percent. This shift sees Flair expanding its domestic and Caribbean routes instead.
- 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.
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