Fuel

Fact Sheet

• The global airline industry’s fuel bill is estimated to have totalled $180 billion in 2018 (accounting for around
23.5% of operating expenses at $72.0/barrel Brent).
• This is an increase of 20.5% over 2017 and is almost double the $91 billion fuel bill for 2005, which
accounted for 22% of operating expenses at $54.5/bbl Brent.
• In 2019 the fuel bill is forecast to be $206 billion, accounting for 25% of operating expenses at around $70
per barrel Brent.
• Industry net profits of $28 billion are forecast for 2019, following an estimated profit of $32 billion in 2018.

Industry Fuel Costs and Net Profit

Net Profits ($ Billion) Total Industry Fuel Costs ($ billion)
50 240

40 36.0 37.6
34.2 220
30.0 28.0
30
200
20 17.3
14.7 13.8
10.7 180
8.3 9.2
10 5.0
160
0
140
-10 -4.1
-4.6
120
-20

-30 -26.1 100

-40 80
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019F

Net Profits (LHS) Average Price per Barrel of Brent Crude Oil
2012 2013 2014 2015 2016 2017 2018 2019F
Total Industry Fuel Costs (RHS) 111.8 108.8 99.9 53.9 44.6 54.9 71.6 70.0

Source: IATA
Updated: 06/2019 Next Update: 12/2019

For more information: IATA Airline Industry Economic Performance June 2019