Oil is very expensive, and a far cry from 2004 when a barrel of it was selling for around $40. In 2008, black gold even peaked at $80. Since then, prices have stabilized at around $130, but according to the International Air Transport Association (IATA) a significant drop is on the horizon.
According to the latest report from IATA, next year, a barrel of kerosene will more than likely cost around $85, making it a boon for airlines, for whom fuel accounts for 26% of their expenses. In 2015, with a barrel at that price, they should generate $25 billion net profit, a saving of $7 per passenger.
Another point which should further reduce the fuel bill in 2015 are the 1,700 new aircraft due to be delivered, which, being more kerosene efficient, will replace half those of the previous generation.
With the fall in oil prices, companies will thus gain overall profitability, primarily in the United States, the Asia-Pacific region and Europe, not forgetting the direct consequences for passengers, since the average price of a return ticket next year could decrease by 5% compared to this year. Fuel surcharges implemented by carriers could also disappear, although it will be for the companies themselves to decide.