Soaring Fuel Costs Trigger Airline Warnings

Airlines are warning of a disappointing third quarter in the wake of higher fuel costs courtesy of rising crude oil prices. Southwest Airlines said its August bookings were at the low end of what it expected, and cut its expectations for revenue per seat mile. United Airlines and Alaska Air Group issued warnings of their own, as higher fuel costs came thanks to tightening supplies. According to an SEC filing by United Airlines, the cost of jet fuel has risen more than 20% since mid-July, with Q3 fuel costs averaging between $2.95 and $3.05 per…