Hainan Airlines
China Southern Airlines (600029), China Eastern Airlines (600115), Air China (601111) and Hainan Airlines (600221) announced on February 21 that effective today, the fuel surcharges for domestic routes will be increased in the wake of the hike in the domestic ex-factory price of jet fuel by the National Development and Reform Commission (NDRC), reports The Beijing News.

The airlines will implement the same fuel surchages, with domestic routes longer than 800 kilometers seeing an increase of between 70 yuan and 90 yuan in the fuel surcharge per passenger.

For domestic routes of less than or equal to 800 kilometers, the fuel surchases will be increased by between 40 yuan and 50 yuan per passenger.

According to Sinolink Securities (600109), the rise in fuel surcharges will be sufficient to cover the increase in the price of jet fuel, and is not expected to have a significant impact on the price of airline tickets.

The NDRC had on February 19 raised the ex-factory price of jet fuel by 350 yuan per ton to 6,340 yuan per ton, effective February 20.

Shares of China Southern Airlines fell 5.22 percent to close at 8.71 yuan today.

SOURCE: CapitalVue
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