Rising fuel prices hurt Airborne's 3Q earnings

Airborne Express said its expects to either just break even or post a loss for the third quarter this year, largely due to higher fuel prices. "Fuel prices have continued to increase and will likely remain volatile until the conflict in the Middle East is resolved," said CFO Lanny Michael, who added that fuel prices have risen 11 cents per gal. since the second quarter. Airborne said it expects to

Airborne Express said its expects to either just break even or post a loss for the third quarter this year, largely due to higher fuel prices.

"Fuel prices have continued to increase and will likely remain volatile until the conflict in the Middle East is resolved," said CFO Lanny Michael, who added that fuel prices have risen 11 cents per gal. since the second quarter.

Airborne said it expects to raise its fuel surcharge for air shipments by 4.3% and ground shipments by 1.3% on November 4. This follows fuel surcharge increase of 3.5% for air service and 1.2% for ground operations on October 7.

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