Regional Airline, LIAT, on Friday announced that it is reducing the fuel surcharge on tickets.
Chief Executive Officer David Evans said effective January 15, 2015, the fuel surcharge will be reduced by 50 percent for all new bookings.
LIAT first introduced a fuel surcharge in 2003, in the wake of increasing fuel prices. In 2009 when the prices went down, the company took a decision to remove the fuel surcharge. However, in 2011, LIAT re-introduced the fuel surcharge in response to months of spiraling jet fuel prices. That year alone, LIAT spent US$22 million on fuel, or 18 per cent of total costs.
The price of both jet fuel (the fuel used by airlines), and crude oil have been falling recently.
Mr. Evans said, being fully aware of the impact that rising fuel prices have had on customers, it is only fitting that they benefit from the decreased prices.
way to go Liat…..now lemme hear all you Liat bashers
Soon to be increased anew as workers at Leave Island Any Time demand an increase in wages.
PetroCribe is suffering with the droping prices.
Ask Peepip! and his equivalent in the UWP the Mahaut shadow minister of oil minerals etc. from the Shadow Gov’t( of 2019) ask di Shadow P.M
You got to be joking, Evans! If I recall correctly the airlines started introducing fuel surcharge when crude oil reached a mark of US$ 75.00 a barrel and it has been with us ever since. Now the price stands at US$ 50.00 so by my calculation it should be reduced to nothing. So, LIAT give me your calculation and tell me how you can justify reducing the surcharge by only 50%.
Finally some good news from Liat. Thank you.