Fuel surcharge for airline passengers cut in April – BusinessWorld Online
THE Civil Aeronautics Board (CAB) said it reduced the airline passenger fuel surcharge in April.
In an advisory on Wednesday, the CAB lowered the passenger surcharge to Level 4 from Level 5 in March.
At Level 4, the passenger fuel surcharge is between P117 and P342 for domestic flights and P385.70 and P2,867.82 for international flights originating from the Philippines.
For airlines collecting the fuel surcharge in foreign currency, the applicable rate for the period is P57.94 to the dollar, the CAB said.
At Level 5, the fuel surcharge for domestic flights ranges from P151 to P542. For international flights, the surcharge is P498.03 to P3,703.11.
“Airlines wishing to impose or collect fuel surcharge for the same period must file its application with this office on or before the effective period, with fuel surcharge rates not exceeding the above-stated level,” CAB Executive Director Carmelo L. Arcilla said.
Fuel surcharges are triggered by the movement of jet fuel prices, using a benchmark known as MOPS (Mean of Platts Singapore).
The global average jet fuel price fell 1.5% week on week on March 14, to $86.69 a barrel.
Year on year, the global average jet fuel price dropped 12.5%, according to the International Air Transport Association. — Ashley Erika O. Jose
