Kevin Hassett: Energy shocks will "affect profits for the airlines for the next quarter or so"
Summary
Kevin Hassett, the White House National Economic Council Director, said that sudden increases in energy prices will reduce airline profits for a few months. He also noted that while rising fuel prices hurt Spirit Airlines, other airlines are less affected by these energy cost changes.Key Facts
- Kevin Hassett is the Director of the White House National Economic Council.
- He spoke on the show "Face the Nation with Margaret Brennan."
- Spirit Airlines said high fuel costs contributed to its closure.
- Hassett said energy price increases do not strongly impact most airlines.
- He admitted that airline profits will be lower for about one quarter due to energy shocks.
- The comment refers to recent changes in fuel prices affecting airlines differently.
- The focus is on the short-term financial effects on the airline industry.
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