How to manage high fuel costs

Recent events have seen oil prices soar. With reports highlighting that if current shortages last for more than six weeks, oil prices could hit “north of” $75 a barrel.

While these high jet fuel prices are good news for refiners, it’s a concern for airlines because as we know, fuel is one of an airline’s largest expenses, usually accounting for up to 30% of its operating costs.

 

Managing fuel costs

The value of jet fuel cannot be controlled by the aviation industry of course, but there are other ways that airlines can reduce their fuel bill and remain profitable, even in challenging market conditions.

As we explained in our last blog, better fuel management brings substantial savings for many reasons. For example:

That’s why leading carriers such as Lufthansa, British Airways and Etihad have invested in the world’s number one fuel management software – FuelPlus.

 

Calculate your potential savings now

 

How much could you save?

By changing how your airline conducts fuel planning, tendering, contract management, operations monitoring and accounting, we’re confident that you can save 2-3% of your fuel bill.

For a medium sized airline, that equates to millions of US dollars. For a larger airline, even more.

These changes can be made far more quickly and affordably than other fuel efficiency measures, such as buying new aircraft or retraining pilots to fly aircraft differently. In fact, we have a specialized aviation fuel and cost management system that will do most of it for you and better yet, we could have you up and running in as little as 6-12 weeks with a low and fixed implementation cost. 

 

With fuel prices reaching a ten-year high and demand set to continue, now more than ever, airlines need to better manage their fuel consumption and operate more efficiently. Fuel management software is a good way to do that. Try our ROI tool today and start building your business case.