Just over a year after the ash cloud from the Eyjafjallajokull volcano caused an expensive and chaotic shutdown of air travel across much of Europe, an different volcano in Iceland, Grimsvoetn, is erupting.
Despite the State Department issuing a travel alert Sunday following the killing of infamous terrorist Osama Bin Laden, Wall Street analysts expect airline stocks to continue their upward ride.
Cathay Pacific CEO Tony Tyler says when airlines last raised fares in 2008, most travelers kept on flying. But as Mideast upheavals send oil prices skyward and airlines hike fares again, the impact on the bottom line could be quite different.
Southwest Airlines is flying high: It's proven consistently profitable, and it serves more passengers than any other U.S. carrier. But as the airline expands its service, CEO Gary Kelly says volatile jet-fuel prices are his biggest concern going into 2011.
Light crude oil prices have been climbing in the last few days, closing the week at $88.94 per barrel on the NYMEX. If prices climb high enough, it could damage the still-weak economy by raising the costs of gasoline, jet fuel and petroleum-based chemicals. How high is too high?