Buckeye Partners Offers to Resolve Dispute Over Jet Fuel Charges
24 February 2015 - 9:40AM
Dow Jones News
Buckeye Partners LP (BPL) is setting aside $40 million as part
of a settlement offer to resolve a dispute with several U.S.
airlines over how much it charges for jet fuel to New York City
area airports.
The master limited partnership said it would revise its fourth
quarter and 2014 results to account for the settlement offer. If
approved by the airlines, it would settle claims for allegedly
excessive charges through Dec. 31.
Delta Air Lines, JetBlue Airways, United Continental, US
Airways, and American Airlines filed a complaint with the Energy
Regulatory Commission in 2012.
Buckeye's shares closed at $76.47 on Monday, down 1%. Shares are
up 4% over the past 12 months.
Write to Maria Armental at maria.armental@wsj.com
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