Changes to Qantas International Fuel Surcharges
Sydney, 01 August 2007
Qantas announced today that it would increase its international fuel surcharges for tickets issued on or after Thursday, 9 August.
The Chief Executive Officer of Qantas, Mr Geoff Dixon, said there would be no changes to the Australian and New Zealand domestic surcharges.
The new one way fuel surcharges are:
From Australia - New surcharge - Previously
UK and Europe - $185 - $170
Mainland USA, Canada, South America, South Africa and India - $145 - $133
Asia, Pacific, Honolulu - $105 - $100
New Zealand - $60 - $55
"Along with most airlines, Qantas has been closely monitoring the upward movement in oil and jet fuel prices over recent months, and with Singapore jet fuel now nearly US$90 a barrel, we have adjusted our international surcharges to or below their August 2006 levels," Mr Dixon said.
"Should the fuel prices drop, we will reduce the surcharges, as we have done on two separate occasions in the past 10 months. The price of jet fuel has increased by more than US$17 per barrel since the last adjustment.
"Despite our robust fuel hedging policy and surcharges, we are nowhere near covering the additional cost to our business of the high fuel prices. At current forward prices, and after hedging, the Qantas Group’s fuel bill for 2007/08 will be more than A$300 million higher than 2006/07, despite the benefit of the stronger Australian dollar."
Mr Dixon said Qantas had limited the increase to its international services.
"There are no changes to our Australian and New Zealand domestic surcharges, and there will be no change to the 6,000 points Frequent Flyers require to pay for the taxes, levies and surcharges on their domestic flights," he said.
Issued by Qantas Corporate Communication (3631)