UIA raises fuel surcharge

UIA raises fuel surcharge

Ukraine International Airlines (UIA) has increased its fuel surcharge in response to ‘crippling’ fuel prices. The airline said it could no longer avoid increasing the fees as oil has increase 50 percent in the past eight months. “Every 1 percent increase in fuel costs wipes US$1million off our bottom line”, said Yuri Miroshnikov, president of UIA. “Costs continued to increase while fares continued to fall.” He explained that the airline would charge an extra US$10 for each flight and on average, US160 of every round trip fare is paid to fuel. “The most frustrating aspect of these high fuel prices is that they are not caused by demand, but by speculation; people gambling on making a profit,” the airline’s statement said. “If only real users were in the market, and speculators controlled, the cost of fuel would be significantly lower.”

Gary Marshall
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Gary Marshall
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