JAL to raise fuel levies, cut flights

business-times.asia1.com.sg :

Japan Airlines Corp (JAL), reeling from two years of losses in three, plans to raise fuel surcharges and reduce its flights to Chicago and Manila, as it tries to return to profit. President Haruka Nishimatsu is trying to boost earnings this fiscal year by cutting employees' wages and passing on increased fuel costs to passengers.

JAL also said it applied to the ministry to raise surcharges on some international routes by between 700 yen (S$9.50) and 5,600 yen (S$76.15). The airline has hedged 35% of its fuel needed for the year starting April 2007, less than the 75% ratio for the current fiscal year.

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