1/12/2010

Economic growth of 2% to 3% in 2009 would be very good for the airline industry, two airline CEOs said Monday, though they cautioned that volatile fuel prices could torpedo a nascent recovery." If we get an economic recovery here in the U.S., if we get positive GDP, that will bode well for the industry and for our company," said American Airlines CEO Gerard Arpey, who noted that fluctuating fuel prices hurt the industry by making it difficult to plan out business costs. Meanwhile, Southwest Airlines CEO Gary Kelly said his company would be "making a lot of money at $50 a barrel," while current oil prices -- $82.52 a barrel on Monday -- represent "pretty treacherous territory for us."

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