Fuel Surcharge Increase

RNS Number : 3515E

International Cons Airlines Group

05 April 2011

 



FUEL SURCHARGE INCREASE

Due to the high price of oil, British Airways has today had to announce an increase in its fuel surcharge on longhaul travel from Friday, April 8, 2011. There will be no increase in the fuel surcharge on domestic and shorthaul flights.

Nick Swift, British Airways' chief financial officer, said: "It's with real regret that we are having to increase our longhaul fuel surcharge. As customers will know from the price at the petrol pumps, the cost of fuel has continued to rise significantly over the past three months. For us, fuel now represents over one third of our costs and particularly affects our longhaul flights. We are very aware of the wider economic pressures on our customers at the moment and we will bear the vast majority of the recent fuel price rise ourselves to keep this increase in surcharge to a minimum"

Longhaul non-premium tickets will experience an increase of £10 per sector.

This means that World Traveller (economy) flights under nine hours will increase from £75 a sector to £85 and flights in excess of nine hours will increase from £88 a sector to £98.

World Traveller Plus (premium economy) flights under nine hours will increase from £85 to £95 a sector and flights of more than nine hours will increase from £106.50 a sector to £116.50.

Longhaul premium tickets will increase by £20 per sector.

First and Club World flights under nine hours will increase from £105 per sector to £125. On flights of more than nine hours there will be an increase from £125 per sector to £145.

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April 5, 2011                                                                                                      021/AA/11               

Notes to editors:

·      The last fuel surcharge increase was on February 8, 2011.

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, 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 itemise 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.  Further information on some of the most important risks in this regard is given in the shareholder documentation in respect of the merger issued on October 26, 2010 and in the Securities Note and Summary issued on January 10, 2011; these documents are available on www.iagshares.com.

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