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Virgin Atlantic cuts fuel surcharge by £5
A drop in oil prices has led Virgin Atlantic to trim its fuel surcharge from £30 to £25.
But the decision to cut the levy by £5 per sector on all tickets sold from today (November 21) will be kept under review.
The carrier’s fuel costs in the year to the end of February 2005 amounted to more than £293 million – 22% of operating costs – and was £60 million higher than budgeted. Fuel surcharges recovered about one third of this increase.
A spokesman said: “It now looks likely that fuel could exceed £380 million of costs in the current year. At that point fuel would amount to 25% of the airline’s operating costs – an increase of 50% over two years.”
The decision to reduce the fuel surcharge has been taken in light of the recent decrease in the price of oil “and we felt it only fair to pass it on to our passengers,” added the spokesman.
“However, future oil prices are predicted to be higher than current levels and we will keep the surcharge under review and adjust it when appropriate.”
Report by Phil Davies
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