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Oil market turbulence forces BA to raise fuel surcharges.
(From The Northern Echo)
Byline: MIKE PARKER Business Editor
BRITISH Airways announced yesterday it was letting passengers bear the brunt of rising oil prices despite turning around its fortunes in the first quarter.
The airline said it would more than double its fuel surcharge for long-haul passengers following turmoil in the oil markets, with the cost of crude rising above the $40 mark.
From Wednesday, the charge for a single long-haul flight will rise from GBP2.50 to GBP6 with the surcharge for a return journey rising to GBP12.
The move, which follows a 45 per cent rise in fuel prices in the past 12 months, was announced as BA said it had achieved pre-tax profits for the three months to June 30 of GBP115m, up from losses of GBP45m a year earlier.
The first quarter performance, described as reasonable by chief executive Rod Eddington, was at the top end of market expectations.
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