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China to resume air fuel surcharges
By Winny Wang |
November 10, 2009, Tuesday
|
Online Edition
Online Edition
CHINA will resume fuel surcharges on domestic air routes to offset climbing costs after the top planning body raised jet fuel prices by 6.6 percent.
The National Development and Reform Commission, which controls fuel prices, raised ex-factory prices for jet fuel by 320 yuan (US$46.85) per ton to 5,190 yuan today.
The commission said it will soon resume fuel surcharges following the price increase but will control it strictly to stabilize market prices.
"The price increase will cost China Southern Airlines 125 million yuan by the end of this year, Air China 83 million yuan, China Eastern Airlines 65 million yuan and Hainan Airlines 38 million yuan," said Wu Li, an analyst at Guotai Junan Securities Co.
"We estimated that the surcharge will reach 40 yuan per passenger for routes longer than 800 kilometers and 20 yuan per capita for shorter ones, which can offset the rising costs," Wu said.
The National Development and Reform Commission, which controls fuel prices, raised ex-factory prices for jet fuel by 320 yuan (US$46.85) per ton to 5,190 yuan today.
The commission said it will soon resume fuel surcharges following the price increase but will control it strictly to stabilize market prices.
"The price increase will cost China Southern Airlines 125 million yuan by the end of this year, Air China 83 million yuan, China Eastern Airlines 65 million yuan and Hainan Airlines 38 million yuan," said Wu Li, an analyst at Guotai Junan Securities Co.
"We estimated that the surcharge will reach 40 yuan per passenger for routes longer than 800 kilometers and 20 yuan per capita for shorter ones, which can offset the rising costs," Wu said.
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