PPRuNe Forums - View Single Post - Private equity take-over for Virgin Australia?
Old 21st Apr 2020, 03:56
  #63 (permalink)  
B772
 
Join Date: Aug 2000
Location: International
Age: 76
Posts: 1,395
Received 4 Likes on 4 Posts
The cost of fuel is paramount for airlines. As you may be aware the cost of crude oil is down overnight. If you can store it you can have it for nothing, a little like free money. You may be aware of negative interest rates for money. This is where the bank pay you to have it which is coming soon to a bank near you. After there was little interest in free oil overnight the price dropped to negative territory. If you can accept the oil you only get it for nothing we will pay you USD35 per barrel to take it off our hands.
B772 is offline