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Sat, Oct 14, 2006 - Page 10 News List

Singapore Airlines and SilkAir reduce fuel levies

AFP , SINGAPORE

Singapore Airlines (SIA) and its regional wing SilkAir said yesterday they would cut the fuel levy on tickets by US$2 to US$8 following the recent declines in jet fuel prices.

The reduced fuel surcharge is effective for all tickets issued from today, the two carriers said in separate statements.

"Singapore Airlines will reduce its fuel surcharges following a decline in jet fuel prices in recent weeks," SIA said.

For flights from Singapore to all Southeast Asian destinations, the fuel levy will be lowered by US$2 to US$18 while the surcharge for North American-bound flights will be cut by US$8 to US$82.

For all other destinations, it will be reduced from US$60 to US$54, SIA said.

SilkAir said in its statement the levy for all Singapore-India flights and Singapore-China flights will be cut by US$6 to US$54.

The surcharge for other destinations will be lowered from US$20 to US$18, SIA's regional carrier said.

Crude oil prices have fallen to their lowest levels since December last year amid fading geopolitical tensions in the Middle East, an uneventful US Atlantic hurricane season and bulging US energy stockpiles.

In Asian trade yesterday, New York's main contract, light sweet crude for November delivery, was up US$0.35 at US$58.21 a barrel from US$57.86 in late US trade on Thursday.

Earlier, the contract fell to US$57.22 at one stage, New York's lowest level since Dec. 19 last year and a 27 percent plunge from its record high of US$78.40 in the middle of July.

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