 |
December 13, 2007 |
|
|
|
 |
ALL NIPPON: To Increase Fuel Surcharge from January-March 2008 All Nippon Airways Co., Ltd., said it will be increasing its fuel surcharge starting January 1, 2008, writes Gerardo Partido of Variety News. According to the report, since October this year, ANA has been fixing its fuel surcharge for a three-month period, with any revision based on the average price of jet fuel for the three months immediately preceding the time of the application. ANA, the report says, is continuing to curb costs and secure greater operating efficiencies but regrets to ask their customers to "share the increased cost burden." The surcharge will remain at the revised level until March 31, 2008, regardless of movements in the energy market, Mr. Partido reports. The next revision, which will be on April 1, 2008, will be based on the average market price of Singapore kerosene for the three months from November 2007 to January 2008 as reported by the U.S. Department of Energy, relates Variety News. The report notes that ANA will reduce the surcharge if the average market price of Singapore kerosene falls below US$90 per barrel for three consecutive months and thereafter as the market price continues to fall, measured in units of US$5. However, the surcharge will be discounted completely if the average market price drops below US$30 per barrel for three consecutive months. About All Nippon Airways Headquartered in Tokyo, All Nippon Airways Co., Limited -- http://www.ana.co.jp/eng/ -- is Japan's second-largest airline company in terms of revenue. The company, which was founded in 1952, provides these services: 1. Scheduled air transportation business; 2. Nonscheduled air transportation business and business utilizing aircraft; 3. Business of buying, selling, leasing and maintenance of aircraft and aircraft parts; and 4. Aircraft transportation ground support business, including passenger boarding procedures and loading of hand baggage. The Troubled Company Reporter-Asia Pacific reported on April 20, 2007, that Moody's Investors Service placed the Ba1 senior unsecured debt ratings of All Nippon Airways Co., Ltd. under review for possible upgrade. The rating action reflects ANA's high and stable profitability despite the ongoing price hikes of aircraft fuel, as well as Moody's view that the company's financial flexibility is likely to be further improved by its recently announced asset disposition related to its hotel business. |
|
|
||
|
Today's Top Stories have been selected from the Troubled Company Reporter - Asia Pacific. To receive the Full TCR-AP please CLICK HERE.
