27th Apr 2007 10:45
British Airways PLC27 April 2007 LONGHAUL FUEL SURCHARGE INCREASED British Airways is to increase its longhaul fuel surcharge with effect fromWednesday May 2, 2007 as a result of recent trends in the price of oil. The fuel surcharge on longhaul flights of less than nine hours will rise from£30 per sector (£60 return) to £33 (£66 return) and from £35 per sector to £38(£76 return) on flights longer than nine hours. The shorthaul fuel surcharge remains unchanged at £8 per sector (£16 return). Robert Boyle, British Airways' commercial director, said: "The latest increasein the longhaul fuel surcharge is regrettable. "The cost of fuel has risen significantly in recent weeks. Unfortunately, wehave little choice but to pass on some of this extra cost to our customers. "Fuel continues to be our second largest cost and we expect our fuel bill forthe year 2007/2008 to be more than £2 billion. "The price of oil continues to be extremely volatile. Therefore, we believe thefuel surcharge continues to be the most transparent way for our customers tounderstand what they are paying and allows us to adjust the direct cost to ourcustomers appropriately, whether that is increasing or reducing the fuelsurcharge as we did on some of our longhaul flights in January." British Airways will also increase its fuel surcharges by similar levels inmarkets outside the UK. April 27, 2007 052/GJ/07 Ends Notes to editors: History of fuel surcharges on all British Airways' flights booked in the UKsince May 2004. May 13, 2004: Introduced a £2.50 per sector surcharge on longhaul and shorthaul. For all flights booked outside the UK the airline introduced a fuel surchargeof USD $4 per sector. August 11, 2004: Surcharge increased to £6 per sector on longhaul. Shorthaulremained at £2.50. Outside the UK, the longhaul fuel surcharge increased toUSD$10 per sector with shorthaul remaining at USD $4. October 14, 2004: Surcharge increased from £6 to £10 per sector on longhaul andfrom £2.50 to £4 per sector on shorthaul. Equivalent rises in other marketsoutside the UK. March 22, 2005: Surcharge increased from £10 to £16 per sector on longhaul andfrom £4 to £6 per sector on shorthaul. Equivalent rises in other markets outsidethe UK. June 27, 2005: Surcharge increased from £16 to £24 per sector on longhaul andfrom £6 to £8 per sector on shorthaul. Equivalent rises in other markets outsidethe UK. September 12, 2005: Surcharge increased from £24 per sector on longhaul to £30per sector. Shorthaul remained unchanged at £8 per sector. Equivalent rises inother markets outside the UK. April 18, 2006: Surcharge increased from £30 per sector on longhaul to £35 persector. Shorthaul remain unchanged at £8 per sector. Equivalent rises in othermarkets outside the UK. January 12, 2007: Surcharge decreased on longhaul flights of less than ninehours from £35 per sector to £30 per sector. Shorthaul remain unchanged at £8per sector. Equivalent decreases in other markets outside the UK. Certain information included in these statements is forward-looking and involvesrisks and uncertainties that could cause actual results to differ materiallyfrom those expressed or implied by the forward looking statements. Forward-looking statements include, without limitation, projections relating toresults of operations and financial conditions and the Company's plans andobjectives for future operations, including, without limitation, discussions ofthe Company's Business Plan programs, expected future revenues, financing plansand expected expenditures and divestments. All forward-looking statements inthis report are based upon information known to the Company on the date of thisreport. The Company undertakes no obligation to publicly update or revise anyforward-looking statement, whether as a result of new information, future eventsor otherwise. It is not reasonably possible to itemize all of the many factors and specificevents that could cause the Company's forward looking statements to be incorrector that could otherwise have a material adverse effect on the future operationsor results of an airline operating in the global economy. Information on somefactors which could result in material difference to the results is available inthe Company's SEC filings, including, without limitation the Company's Report onForm 20-F for the year ended March 2006. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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