Issue Summary

The third quarter is nearing its end, with demand still humming in most markets, excluding China and Japan. Better yet, fuel costs continue their downward march, albeit from extremely high levels this summer. West Texas Intermediate crude oil prices dropped below the $80 per gallon mark last week, offering much-needed cost relief for airlines. On the other hand, as the Federal Reserve progressively hiked interest rates, the U.S. dollar continued to gain in value versus most other world currencies — and that’s a problem for most airlines.