fuel bill

High jet fuel prices saw annual pre-tax profits at Virgin Blue, Australia's second-largest airline, fall by 55%.

British Airways blames a doubling of fuel costs for an 88% drop in quarterly profits during the "worst trading environment ever".

Continental Airlines becomes the latest carrier to scale back because of its soaring fuel bill, cutting 3,000 jobs.

The Hong Kong budget airline Oasis stops flying and applies for liquidation, leaving passengers stranded.