Source: Chinadaily.com.cn Author: 08/26/2009
Subject Concerned: Airlines Cargo Aviation Fuel
The country's three main airlines -- Air China, China Southern Airlines and China Eastern Airlines -- will be raising domestic freight fuel prices starting Aug. 26, Changjiang Daily, a Wuhan-based newspaper, reported on Aug. 26.
China Southern Airlines has increased the freight fuel price to 300 yuan (US$43.8) per ton, 50 percent up from the previous 200 yuan (US$29.2) per ton.
Experts said the raise was mainly due to the recent spike of the global crude oil price, which reached US$75 a barrel -- a 10-month high -- in trading on Aug. 25.
They predict that the freight fuel price hike will help ease the cost of airlines, but will have a big impact on air logistics companies.