British Airways PLC
27 April 2007
LONGHAUL FUEL SURCHARGE INCREASED
British Airways is to increase its longhaul fuel surcharge with effect from
Wednesday 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 increase
in the longhaul fuel surcharge is regrettable.
'The cost of fuel has risen significantly in recent weeks. Unfortunately, we
have 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 for
the year 2007/2008 to be more than £2 billion.
'The price of oil continues to be extremely volatile. Therefore, we believe the
fuel surcharge continues to be the most transparent way for our customers to
understand what they are paying and allows us to adjust the direct cost to our
customers appropriately, whether that is increasing or reducing the fuel
surcharge as we did on some of our longhaul flights in January.'
British Airways will also increase its fuel surcharges by similar levels in
markets 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 UK
since 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 surcharge
of USD $4 per sector.
August 11, 2004: Surcharge increased to £6 per sector on longhaul. Shorthaul
remained at £2.50. Outside the UK, the longhaul fuel surcharge increased to
USD$10 per sector with shorthaul remaining at USD $4.
October 14, 2004: Surcharge increased from £6 to £10 per sector on longhaul and
from £2.50 to £4 per sector on shorthaul. Equivalent rises in other markets
outside the UK.
March 22, 2005: Surcharge increased from £10 to £16 per sector on longhaul and
from £4 to £6 per sector on shorthaul. Equivalent rises in other markets outside
the UK.
June 27, 2005: Surcharge increased from £16 to £24 per sector on longhaul and
from £6 to £8 per sector on shorthaul. Equivalent rises in other markets outside
the UK.
September 12, 2005: Surcharge increased from £24 per sector on longhaul to £30
per sector. Shorthaul remained unchanged at £8 per sector. Equivalent rises in
other markets outside the UK.
April 18, 2006: Surcharge increased from £30 per sector on longhaul to £35 per
sector. Shorthaul remain unchanged at £8 per sector. Equivalent rises in other
markets outside the UK.
January 12, 2007: Surcharge decreased on longhaul flights of less than nine
hours from £35 per sector to £30 per sector. Shorthaul remain unchanged at £8
per sector. Equivalent decreases in other markets outside the UK.
Certain information included in these statements is forward-looking and involves
risks and uncertainties that could cause actual results to differ materially
from those expressed or implied by the forward looking statements.
Forward-looking statements include, without limitation, projections relating to
results of operations and financial conditions and the Company's plans and
objectives for future operations, including, without limitation, discussions of
the Company's Business Plan programs, expected future revenues, financing plans
and expected expenditures and divestments. All forward-looking statements in
this report are based upon information known to the Company on the date of this
report. The Company undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future events
or otherwise.
It is not reasonably possible to itemize all of the many factors and specific
events that could cause the Company's forward looking statements to be incorrect
or that could otherwise have a material adverse effect on the future operations
or results of an airline operating in the global economy. Information on some
factors which could result in material difference to the results is available in
the Company's SEC filings, including, without limitation the Company's Report on
Form 20-F for the year ended March 2006.
This information is provided by RNS
The company news service from the London Stock Exchange
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