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[Guest]

Is this recent oil crisis unique to the united states. we see how the american carriers are being hurt by fuel prices. How is it in other places in the world like Asia, Europe and Australia?

[Guest]

Yes, the oil crisis is global. Airlines around the world are struggling with fuel prices.

Air France KLM has warned it would have to expect a ¬1.1 billion ($2.25 billion) rise in fuel costs, squeezing profits this year and forcing it to find ¬150 million in savings.

Air New Zealand has already issued a profit warning, raised fares and has said it may need to reduce the frequency of flight routes by the end of the year.

The sharp decline in premium class bookings from Europe to the Southwest Pacific this year is of concern to all airlines as that is where they make most of their money.

http://www.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10512422