China Cuts Fuel Price to Support Domestic Airlines
April 4, 2008
China has announced a cut in wholesale jet fuel price by 1.3% or CNY80 a ton to encourage domestic carriers withstand the competition from international carriers, Bloomberg has reported.
In spite of rising crude oil prices, jet fuel regulator China Aviation Oil Holdings has cut the price to CNY6,100, to assist the domestic airlines.
Air China has recently said that competition from foreign carriers is posing a bigger challenge this year than it did last year even as Cathay Pacific Airways and Singapore Airlines are planning to expand their operations in China.
Topics:
Oil & Gas Prices, Jet Fuel, Insert, Cathay Pacific, Airlines, Singapore Airlines, Spites, Wholesales