Airlines and oil prices – is media anti-biz or really that dumb?
Newscasters on CNBC, Fox, CNN, Bloomberg and other stations have asked their guests in recent weeks why airlines won’t cut their prices since the price of oil and, therefore, jet fuel, has dropped. Framing the discussion in this way implies the price of a ticket is determined based on the input costs. Of course, it is not, and to even imply that reveals a stunning lack of business acumen from journalists who claim to be experts in the field. The price of a ticket is based on: