Wasted fuel from U.S. flight delays costs billions

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WASHINGTON (Reuters) - Flight delays could cost U.S. airlines more than $2 billion in wasted jet fuel this year, according to a congressional report released on Thursday.

The Joint Economic Committee study estimated that flight delays and congestion, especially in the New York region, are squeezing airlines at a time when the industry's financial condition is deteriorating rapidly due mainly to the unchecked cost of fuel.

"The airline industry is drowning in red ink," said U.S. Sen. Charles Schumer, who introduced the report that more broadly found flight delays severely impact the economy.

Commercial aircraft burned an estimated 740 million gallons of excess jet fuel because of record flight delays in 2007, costing them $1.6 billion. The calculation assumes an average wholesale price of $2.15 per gallon.

Reuters