The increase in the price of fuel, a central challenge for aviation

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The increase in the price of fuel, a central challenge for aviation
Source: Twitter @ALTA_aero
June 24, 2022

Pedro Heilbron, CEO of Copa Airlines stated that the industry faces turbulent winds due to the fact that the value reached historically high levels

Source: SNIP Noticias

The air market is resuming the flight and has recovered at a good pace, mainly driven by passengers traveling for tourism, while the business part is slower, as announced by the CEO of the Panamanian airline Copa Airlines, Pedro Heilbron However, the executive stated that the industry is now facing a new turbulence, the increase in fuel prices.  

“In the industry in general, we are now facing headwinds due to the increase in the price of fuel, which is at historically high levels, for airlines this represents more than 40% of costs,” said the airline executive, who assured that this It is the main challenge you currently have. 

Heilbron said that the impact of the fuel price will be reflected mainly in the financial statements of the airlines and the recovery and growth will also indirectly or directly impact passengers that there could come a time when the number of passengers is reduced.   

Although he quickly clarified that Copa Airlines' plan is to continue growing and recovering. "We think that it is important for the competitiveness of Panama as a hub of the Americas, of the country as a center of business and tourism since the other airlines in the region have been developing its own hub, increasing non-stop flights that avoid interconnecting at the hubs. As an airline, Copa, and as a country, Panama, we must face this competition and continue to strengthen operations at Tocumen International Airport, and that is our plan for as long as this is possible,” said Heilbron.  


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