IATA Methodology - Impact on this year’s fuel bill of the global commercial airline industry
This table calculates the ‘new fuel price average’ for the current year by extrapolating this week's price out to the end of the year, at this week's level. This price is multiplied by the gallons of jet fuel consumed by the global commercial aviation industry last year. This total is then subtracted from last year’s fuel bill in order to estimate the impact of the change in average fuel prices on the current year’s fuel bill. This estimate does not take into account any changes in the quantity of fuel consumed or the impact of hedging.