Does anyone know what percentage of a plane ticket represents the cost of fuel? I know it takes a lot of gas to get a plane into the air and to its destination. If the price of gas goes up a dollar per gallon, that has to be a huge price increase for a domestic or international flight.
Since we are getting to the point where oil is harder and more expensive to find, doesn't it make sense that the era of relatively cheap air travel is over?
My biggest hope is that a company will invent a new type of hybrid airplane engine that doesn't use as much fuel. I know GE has been advertising a new more efficient engine, but I think we still have a long way to go.
It would be so great if a new fuel efficient engine could be put into service. Not only would our airfares be protected from higher gas prices, but we also would put less carbon pollution into the air when we go on vacation or for business trips.
If anyone has any knowledge about the cost of plane tickets, the relation of hihg gas prices to airfare and the future of fuel efficient airplane engines, I would love to learn more.
The worst part of traveling is the carbon foot print. Other than that, it is mostly a positive activity. I keep telling myself that we will someday figure out how to drive our cars and fly to distant lands wihtout using massive amounts of fossil fuels. Hopefully that day will come soon.
There is no doubt that high oil & gas prices will raise the price of airfares. I'm not sure what percentage of an airline ticket is based on the cost of fuel, but I would imagine it is a substantial part.
Did you see today that as the price of oil crashed, the stock prices of airlines rose?
Hopefully the lower gas prices will lead to lower airfare prices.
Otherwise the lower gas prices will just lead to higher stock prices and higher executive bonuses.