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Travel demand is very high. This is true even with violence in the Middle East and rising oil prices. Scott Kirby, the CEO of United Airlines, said this on Thursday.
Kirby noted that demand has not dropped at all. He said, “It is really strong; better than we thought it would be.” Booked revenue has risen by more than 20% since Saturday.
Most bookings are for Europe, as people continue to travel for both work and fun. This strong demand may last, even if the conflict continues. The price of oil is now nearly $88 per barrel. It has gone up over 30% in one week.
The cost of jet fuel has also increased. It is now up 58% to $3.95 per gallon. Airlines will have to pass some of these costs to customers soon.
Though United Airlines mostly serves a few routes to the Middle East, they are in talks with the U.S. State Department. They may help bring back Americans stuck in the Gulf region. However, nothing has been decided yet.
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Vocabulary List:
6 words · tap to reveal
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Accent
Revenue/ˈrɛvəˌnuː/noun
The income a company earns from its business activities (e.g. ticket sales).
Bookings/ˈbʊkɪŋz/noun
Reservations made in advance (for flights hotels etc.).
Jet fuel/ˈdʒɛt fjuːəl/noun
A type of fuel used by aircraft engines.
Barrel/ˈbærəl/noun
A unit used to measure oil (one barrel = 42 US gallons); also a large cylindrical container.
CEO/ˌsiː.iːˈoʊ/noun
Chief Executive Officer — the highest-ranking person in a company who makes major decisions.
Routes/ruːts/noun
Regular paths or courses taken by vehicles or planes between places.
