8月以降の原油価格40%急騰、航空・クルーズ業界の燃料費に圧力

American stopped hedging and is vulnerable to the oil spike, with each one-cent rise in jet fuel adding ~$46M to annual operating expenses.

Delta faces higher fuel costs from the 40% oil surge, though its Pennsylvania refinery cushions the blow.

United abandoned hedging and is exposed to the oil spike, with each one-cent rise in jet fuel adding ~$40M to annual operating expenses.

Carnival buys fuel at spot prices with no hedges, so a 10% fuel cost increase can cut annual net income by up to $140M.

Royal Caribbean faces higher fuel costs from the oil spike, though its 60% below-market hedges limit the hit to ~$50M per 10% increase.

Oil's 40% surge raises fuel costs, though Viking is the least exposed on a fuel-consumption basis due to its smaller fleet and inelastic customer base.