- Ahead of attack anniversary, Netanyahu says: 'We will win'
- West Indies cruise to T20 World Cup win over Scotland
- Arshdeep, Chakravarthy help India hammer Bangladesh in T20 opener
- Lewandowski's quickfire hat-trick powers Liga leaders Barca to Alaves victory
- Man Utd fire another blank in Aston Villa stalemate
- Lewandowski treble powers Liga leaders Barca to Alaves victory
- Russian activist killed on front line in Ukraine
- Openda strike briefly sends Leipzig top of Bundesliga
- Goal-shy Man Utd have to 'step up', says Ten Hag
- India bowl out Bangladesh for 127 in T20 opener
- Madueke rescues Chelsea in draw with 10-man Forest
- Beckett's belief rewarded as Bluestocking storms to Arc glory
- Trump on the stump, Harris hits airwaves in razor-edge US election
- Flash flooding kills three in northern Thailand
- Kaur leads India to victory over Pakistan in Women's T20 World Cup
- Juventus held by Cagliari after late penalty drama
- In France's Marseille, teen 'stabbed 50 times' then burned alive
- Ruthless Gauff beats Muchova in straight sets to win China Open
- India restrict Pakistan to 105-8 in Women's T20 World Cup
- England target repeat of Pakistan Test whitewash
- Penrith Panthers win fourth straight NRL title after downing Storm
- Weary Sinner happy for day off after battling into Shanghai last 16
- Pakistan's Masood warns England still a force without Stokes
- Madrid's Carvajal to miss several months after serious knee injury
- Israel pounds Lebanon ahead of Hamas attack anniversary
- Two elephants die in flash flooding in northern Thailand
- Sabalenka targets world number one and Wuhan hat-trick
- Toddler among 4 dead in migrant Channel crossings
- Tunisia votes with Saied set for re-election
- Bagnaia sets 'example' with Japan MotoGP win to cut gap on Martin
- Intense Israeli bombing rocks Beirut ahead of war anniversary
- Mozambique vote: no suspense but some disillusion
- Austrian rapper channels anti-racist rage in Romani hip-hop songs
- Ohtani magic powers Dodgers over Padres in MLB playoff thriller
- Five of the best: Pakistan-England Test thrillers
- Man sets arm on fire as marches across US mark Gaza war anniversary
- Vietnam's young coffee entrepreneurs brew up a revolution
- Trump rallies at site of failed assassination: 'Never quit'
- Too hot by day, Dubai's floodlit beaches are packed at night
- Is music finally reckoning with #MeToo?
- Fans hail Trump's 'guts' as he returns to site of rally shooting
- Lebanon state media says 'very violent' Israeli strikes hit south Beirut
- Guardians maul Tigers, miracle Mets rally in MLB series openers
- Lebanon state media says Israeli strikes hit south Beirut
- Miami on track for MLS record points after win in Toronto
- Madrid beat Villarreal but Carvajal suffers knee injury
- Madrid beat Villarreal to move level with Liga leaders Barcelona
- Monaco take top spot in Ligue 1 with win at Rennes
- French rugby player on rape charge whistled but 'serene' on return
- Madrid beat Villarreal to level Liga leaders Barca
US airlines see strong travel recovery after Omicron
Major US carriers lifted their revenue forecasts Tuesday as a faster-than-expected travel recovery from the latest Covid-19 wave mitigates the drag from higher jet fuel costs.
American Airlines, Delta Air Lines, United Airlines and Southwest Airlines all offered similar appraisals of market conditions in presentations at an investment conference Tuesday.
American now expects first-quarter revenues to be down 17 percent compared with the 2019 period, after previously projecting a drop of as much as 22 percent.
"The improvement in revenue is expected to more than offset the increases in fuel and other expenses in the quarter," American said in a securities filing.
Delta Air Lines reported "strong spring and summer travel demand" as it lifted its revenue forecast for the first quarter of 2022.
Southwest Airlines used similar language to describe booking trends, while United Airlines said that "in the period following the peak in Covid-19 case counts associated with the Omicron variant in January 2022, demand for travel has exceeded the company's previous expectations."
But higher jet fuel costs in light of spiking crude prices act as a counterweight to the improved travel outlook.
Delta now projects fuel prices of $2.80 a gallon, up from its prior range of $2.35 to $2.50. American and United also warned of a hit from fuel.
Rising fuel costs, along with aircraft delivery delays, were a factor in United's move to trim its overall flight capacity in 2022.
Southwest proved an exception since the carrier's hedging program locked in fuel costs when prices were lower. As of March 10, the program amounted to an asset of $883 million based on current prices for the commodity.
But Southwest also trimmed its flight schedule for the March to May period, citing "continuing challenges with available staffing."
Shares of airlines were sharply higher early Tuesday, with all four carriers up at least 5.6 percent.
P.M.Smith--AMWN