Oil Prices
 

Light, sweet crude for November delivery dropped as low as $US68.57 a barrel on the New York Mercantile Exchange before paring some of its losses to trade down $US3.14 at $US71.40. It was crude's lowest trading level since June 27, 2007.

Crude has now fallen 52% since surging to a record $US147.27 on July 11. Some energy analysts have predicted oil could fall as low as $US50.





I look forward to the Friday updates from Tony & Nick.

I'm sure there is a special edition of CX NEWS being prepared explaining how fortunate we are as a company to see the oil price fall. It will have a lead editorial by TT (smiling photo) stating that the 13th month is now secure, and profit sharing is being calculated. He will compete with AA who have just declared a good profit, and announced a special bonus for their employees who have worked hard over this past difficult year. Can't wait. :ok:

CI 15
 

Maybe sometime soon our airbus fleet can stop being overtaken by every aircraft in the sky, other than maybe a dash 8.:}

Ah yes. And hopefully you can make your planned level by the boundary and not get stuck at F270 until Darwin coz everyone else got the good levels. Take out the derate. Penny wise pound foolish bean counters.

The derate has nothing to do with fuel saving, only engine wear.

A derated climb actually uses more fuel.

Probably hedged at $140 !!!

On the Beach

Yes. Can't help thinking what comeback the management have about this. I see the latest update goes on about the reduced load factors(especially front end), and I'm sure it's totally true and it's going to hurt. However, barring any huge screwup in the fuel hedging department, the overall figures aren't going to be catastrophic.

Am I correct in assuming the facts and figures quoted by management these days are being compared to a record year (last year)? I would like to see some current figures put up against an 'average' year, if there is such a beast. Perhaps that might put things into perspective a bit more realistically.

Yes, I just read the latest SPIN from our so called "Managers"

I also just looked at the latest Jet Fuel price monitor from IATA.

Each week IATA updates its jet fuel price index to provide the latest price data from the leading energy information provider Platts. The weekly index and price data shows the global average price paid at the refinery for aviation jet fuel.

This week's price of aviation jet fuel is DOWN 15.8% on 1 week ago, DOWN 24.8% on 1 month ago and ..............................WAIT FOR IT..............................DOWN 0.9% on 1 year ago


So assuming fuel is no longer a factor then our RECORD PROFIT last year should still work out to a nice profit this year?

Funny how the Fri reports from "un-smiling Tony" and Tricky Nick didn't mention ANYTHING about fuel again

A friend of the family yesterday was on a full fare out of London and begged by London to off load and take a later flight.

Another friend on the same flight trying to staff travel says that London have been turning staff and full fare pax away for 2 days!

Looking at the Staff travel system, all red this week in all classes for basically all of Europe.

According to company no one is traveling? I'm confused :suspect:

FAC6, the same has been going on in Toronto all week. On the 15th economy was oversold by 25. Business was filled up with some of the overflow. ID and even an FOC along with some full fare pax were left behind. Seems impossible to get out of YYZ without a J1 these days. Looking ahead, November looks the same. Good for the company, crap for staff travel. Wish they didn't get rid of the 3 times weekly Airbus flight.

If the loads are so bad, why can't I get a confirmed FOC LHR-HKG early December. Cupid loads to/from Europe don't look bad at all. Fuel back down to pre crisis levels. Comparing this year with a world record year last year looks flawed. Come on Tony - we may look stupid but........:cool:

This week's price of aviation jet fuel is DOWN 6% on 1 week ago, DOWN 28.3% on 1 month ago and DOWN 11% on 1 year ago

school holidays in the UK:eek:

Oil ends at 16-month low
 

Some highlights (bold emphasis added by me):

Oil prices fell sharply on Wednesday, reaching prices not seen since June of last year

U.S. crude for December delivery lost $5.43 to end the session at $66.75 a barrel in New York.

Wednesday's settle price was the lowest since June 13, 2007, when oil ended the day at $66.26 a barrel.




Full story:
Oil settles at 16-month low after boost in inventory - Oct. 22, 2008

Why doesn't the fuel price inquiry on intra cx work anymore?
Says "access forbidden"

Dead Head

It's never worked.

For some reason it only works at work, not at home????
Looked at it yesterday and it said $2.08 per gallon, down from near $3 dollars near the start of the month

Crude oil tumbled to a 16-month low as OPEC's decision to slash production by 1.5 million barrels a day failed to ease concern that the global economic slump is curbing fuel demand.

"At this stage it looks like we are at the edge of a bottomless pit and prices are heading quickly toward $US50," said Nauman Barakat, senior vice president of global energy futures at Macquarie Futures USA Inc. in New York. "OPEC really needed to take the bull by the horns and make a bigger cut."

The 13 members of the Organization of Petroleum Exporting Countries agreed to lower supply starting in November, oil ministers said today at a meeting in Vienna. Prices have dropped 56% from the record $US147.27 a barrel reached on July 11 as stock markets declined.

Bloomberg

Not only did the price of crude oil drop but the Hong Kong Dollar got very strong.

Its 42% stronger against the South African Rand for example.
The US was 2.05 against the pound now only 1.55.

Surely that will make buying fuel in other countries allot cheaper aswell...

ZAR is not a good barometer, this is not due to stong $ but declining ZAR against every other currency, only one flight a day to R.S.A. is not a big impact on a fuel bill as big as CX's. Tickets out of R.S.A are paid in Z.A.R.

In general, yes, fuel cost help more then any management ( including SQ ) would admit.