Friday September 09, 2005

SIA, BA raise fuel surcharge

channelnewsasia.com :

Singapore Airlines (SIA) Thursday said it would raise its fuel surcharge again by as much as US$5 to cope with higher oil bills, boosting its highest levy to US$50 per passenger. SIA said the hike was needed as jet fuel prices had risen to US$80 a barrel from US$70 in July, when the last surcharge adjustment was made.

SIA is one of the world's most profitable airlines but has not escaped from the impact of higher oil prices. In the first quarter to June, the airline's net profit fell 7.9 percent year-on-year to S$235 million (US$140 million) as fuel expenses increased. The airline said net fuel costs of US$892 million accounted for 32 percent of the group's expenditure, compared with 23.3 percent the year before.

peakoil.com -> bbc.co.uk :

British Airways is to increase fuel surcharges on long-haul tickets bought in the UK for the fifth time in the past 18 months. The increase, taking effect from 12 September, means customers will pay a GBP 30 charge for a one-way ticket - up from GBP 24 - and GBP 60 on a return fare.

BA introduced fuel surcharges on both short-haul and long-haul flights in May 2004. Since then, the amount charged for a single long-haul flight has risen from GBP 2.50 to GBP 24. BA said its fuel costs had risen nearly 400% since the end of 2001 and were now costing the airline about GBP 1.6bn a year.

(2005-09-09 15:51:35 SGT) [Energy] Permalink

Most popular blog postings on lowem.log :

1. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004
2. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
3. Singapore SIBOR rate falls to 1.31%, lowest since Nov 2004
4. Singapore SIBOR interest rates fall to 1.5%, lowest since Dec 2004
5. Live spot gold price quotes chart on COMEX
6. 2010 Honda Civic Hybrid preliminary specifications released
7. Fuel prices seen stoking Malaysia inflation in 2008
8. How to insert currency exchange rates into Google Spreadsheets

Featured articles on lowem.log :

1. ABC Guide to Beating Inflation in Singapore and Elsewhere
2. Singapore inflation rate hits new 26-year high of 7.5% in Apr 2008
3. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
4. 67000 China factories closed in H1 2008 as global economic collapse takes hold
5. 2010 Honda Civic Hybrid preliminary specifications released
6. Peakoiler buys 2008 Honda Civic Hybrid FD3
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004