The most fundamental change in the aviation industry in recent years is the rise in the price of fuel. A decade ago, the world's airlines spent $44 billion on jet fuel, accounting for 14% of operating costs. Today, the collective fuel tab is $211 billion, a whopping 31% of operating costs. Most industry executives assume that oil prices will remain at or around $100 per barrel for years to come-a driving force behind the record backlog for new, fuel-efficient aircraft.
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