JAL Applies for Increase in International Passenger Fare Fuel Surcharges.Tokyo, Japan, Aug 17, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Today the JAL JAL Jalisco (Mexican state) JAL Jalapa (Guatemala territorial division) JAL Jump And Link JAL Japan Airlines Company, Ltd. Group requested approval from the Japanese Ministry of Land, Infrastructure and Transport (MLIT MLIT Ministry of Land, Infrastructure and Transport (Japan) MLIT Money Laundering Investigation Team ), to increase the fuel surcharge placed on all international passenger tickets issued on or after October 1st, 2006. JAL originally introduced the fuel surcharge on international tickets in February 2005 in response to unprecedented rises in the cost of fuel. Since then continuing fuel cost increases have forced JAL to review the amount of fuel surcharges. This will be the third increase in international surcharges since their introduction. Based on ticket sales in Japan, the new surcharges range from 2,000 yen on a Seoul-Tokyo ticket (up from 1,300 yen) to 17,100 yen on a Japan- Brazil ticket (up from 11,500 yen). The surcharge on a Japan-Europe ticket or a Japan- North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. ticket is 13,600 yen up from 8,000 yen. In the first quarter of FY2006 (the year-ending March 31, 2007) fuel costs rose to an average of US$82.0 per barrel of Singapore Kerosene kerosene or kerosine, colorless, thin mineral oil whose density is between 0.75 and 0.85 grams per cubic centimeter. A mixture of hydrocarbons, it is commonly obtained in the fractional distillation of petroleum as the portion boiling off , compared to an average price of US$66.7 in the same period last year. As a result, the fuel bill for the quarter was 97.4 billion yen (US$846 million), an increase of 10.1 billion yen (US$80 million), up 11.6% on the same period last year. The airline expects high fuel prices to continue into the future. In fiscal year FY2005 (the year ending March 31, 2006), the group's fuel bill was 88.2 billion yen higher than that of the FY2004. In FY2006, JAL forecasts that its fuel bill will be 117 billion yen (US$975 million) higher than that of FY2004. JAL has taken a wide range of countermeasures That form of military science that, by the employment of devices and/or techniques, has as its objective the impairment of the operational effectiveness of enemy activity. See also electronic warfare. to limit the full impact of the price increase including fuel hedging Fuel hedging is the practice, often employed by airline companies, of making advance purchases of fuel at a fixed price for future delivery to protect against the shock of anticipated rises in price. See also
Despite these measures, the company is again reluctantly obliged o·blige v. o·bliged, o·blig·ing, o·blig·es v.tr. 1. To constrain by physical, legal, social, or moral means. 2. to ask its international passengers to bear part of the burden caused by the unprecedented increase in the price of fuel over the past few years. The revised surcharge will be reduced once the price of Singapore kerosene stays below the benchmark of US$80.00 per barrel for 30 consecutive working days. The surcharge will be progressively reduced as the price of fuel decreases, and will be cancelled completely when the price of Singapore kerosene stays below the benchmark of US$40.00 per barrel for 30 consecutive working days. For a comlete table of the surcharge rates, pleae visit the JAL website: http://www.jal.com/en/press/0000659/659.html About Japan Airlines Corporation The JAL Group (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 9201) is Japan's leading air transportation group, resulting from the integration of Japan Airlines and Japan Air System on October 2, 2002. On April 1, 2004 the Group was reorganized re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. under a single "JAL/ Japan Airlines" brand, with Japan Airlines Domestic handling domestic passenger operations and Japan Airlines International responsible for international passenger and cargo operations. Coordinating the group is Japan Airlines Corporation, a holding company. JAL International and JAL Domestic will be integrated into one company in October 2006. For more information, please visit www.jal.com. Source: Japan Airlines Corporation Contact: Stephen Pearlman stephen.pearlman@jal.com Telephone: 81-3-5460-3109 Fax: 81-3-5460-3108 www.jal.com/en/corporate/ Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion