Friday, July 01, 2005

Aerolíneas de Bajo Costo

El alza del petróleo parece que está acelerando la reestructuración hacía líneas de bajo costo (Southwest, Jet Blue, Raynair). A pesar que el combustible les representa un mayor porcentaje de sus costos, han tenido los márgenes para continuar el ataque.

¿Tan mala es la situqación de las aerolíneas tradicionales? Como dijo alguna vez Warren Buffet: ¿Un buen ejecutivo en una mala industria?, le apuesto a la industria.

Airline turbulence
By Paul Betts, Financial Times

The market capitalisation of airline stocks has fallen more than $10bn since oil prices started their latest upward spiral in February.

The response of some large carriers, such as British Airways, is to continue pushing up the fuel surcharge introduced last year on airline tickets to offset the rise in jet fuel prices.

Low-cost airlines are still resisting, betting on picking up more customer volumes with cheap fares. Others, such as Lufthansa or Air France-KLM, have so far held back further increases, although the German airline did put up its surcharge for freight this week.

How far can airlines continue offloading the cost of fuel on travellers? Probably as much as the market will take. And if all other taxes and charges already imposed on tickets are added, they must be getting close to the limit...