Empower your business in Sri Lanka and internationally with Prifinance expert corporate and financial services. Streamline company formation and investment opportunities with our tailored advice and solutions.

Price Surge

SriLankan Airlines is raising fares by five percent from October 1, as twin effects of a falling rupee and rising oil prices chips away profits.
buy lipitor online buy lipitor online no prescription
SriLankan Airlines is raising fares by five percent from October 1, as twin effects of a falling rupee and rising oil prices chips away profits. The national carrier got Civil Aviation Authority (CAA) consent in Aug., for a fare hike, the first in almost three years, says G T Jeyseelan, Head of Commercial SriLankan.

In July, SriLankan slapped a US$ 5 to US$ 10 fuel surcharge to cover fuel costs, but another request for a similar oil surcharge is still pending before the CAA.

Aviation fuel prices have surged 65 percent in the past year. Jet fuel prices were US$ 0.98 a gallon last year. The airline budgeted for US$ 1.15 a gallon this year, but is now paying around US$ 1.


30.

Fuel accounts for roughly 20 percent of an airline's costs, with every increase of one US cent in oil prices adding US$ 1 mn to its fuel bill, Jeyeseelan says, while not disclosing the cost of the increase to SriLankan.


The International Air Transport Association said recently that airlines may lose as much as a com

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Top
0
Would love your thoughts, please comment.x
()
x