Fact Sheet: Fuel

• The global airline industry’s fuel bill is forecast to total $207 billion in 2012 (accounting for 33% of operating expenses at $110.0/barrel Brent of oil).
• This is an increase of $31 billion over 2011 and is almost 5 times 2003’s fuel bill of $44 billion (that accounted for 14% of operating expenses at $28.8/barrel Brent).
• In 2011 the fuel bill is estimated at $176 billion (accounting for 30% of operating expenses at $111.2 per barrel Brent).
• Industry profits of $3.0 billion are forecast for 2012 and following profits of $7.9 billion in 2011.
   

 Industry Fuel Costs and Net Profits

Updated: 06/2012 Next Update: 9/2012 Source: Industry Financial Forecast Table (IATA Economics)

 

Fuel Impact on Operating Costs

Year	% of Operating Costs	Average Price per Barrel of Crude	Break-even Price per Barrel	Total Fuel Cost
2003	14%	$28.8	$23.4	$44 billion
2004	17%	$38.3	$34.5	$65 billion
2005	22%	$54.5	$51.8	$91 billion
2006	26%	$65.1	$68.3	$117 billion
2007	28%	$73.0	$82.2	$135 billion
2008	33%	$99.0	$82.5	$189 billion
2009	26%	$62.0	$58.9	$125 billion
2010	26%	$79.4	$89.6	$139 billion
2011 F	30%	$111.2	$116.1	$176 billion
2012 F	33%	$110.0	$111.9	$207 billion

Updated: 6/2012 Next Update: 9/2012 Source: Industry Financial Forecast Table (IATA Economics)

 

Impact of Refinery Margin on Fuel Costs

Updated: 6/2012 Next Update: 9/2012 Source: Industry Financial Forecast Table (IATA Economics)

Updated: June 2012