American Airlines Cargo Division Announces Increase in Fuel Surcharge
Posted on: Friday, 14 October 2005, 15:00 CDT
FORT WORTH, Texas, Oct. 14 /PRNewswire-FirstCall/ -- American Airlines Cargo division announced today an increase in its fuel surcharge from $0.55/kg to $0.60/kg for most U.S.-origin international shipments, and from $0.22/lb to $0.24/lb for U.S. domestic shipments, effective Oct. 26, 2005. The fuel surcharge also will be applied, in local currency, for most non-U.S.-origin shipments, unless the adjustment is not allowed for regulatory reasons.
Other changes include the addition of two new trigger points to the fuel index to help in projecting future increases, and an increase from $3.00 to $4.00 per shipment in the surcharge minimum associated with American's Priority Parcel Service(SM) product.
Changes to the fuel surcharge occur when the index equals, exceeds or falls below a specified fuel threshold for two consecutive weeks. The current fuel index reached 226.74 for the week ending Oct. 7, exceeding the trigger point of 211.00.
The fuel index is based upon an average of the five jet-fuel spot markets. It was established in September 2002 as a method of monitoring and responding to changes in jet-fuel costs. Complete information on fuel surcharges, including an expanded matrix of country-specific information, is available at http://www.aacargo.com/ .
Fuel Index Methodology
The American Airlines Cargo Fuel Index is based on the weekly average spot price of kerosene-type jet fuel as reported by the U.S. Department of Energy in the Weekly Petroleum Status Report. The index is calculated by averaging the five current spot prices in the New York Harbor, U.S. Gulf Coast, Los Angeles, Rotterdam and Singapore markets.
About American Airlines Cargo
American Airlines Cargo(SM), a division of American Airlines, Inc., provides over 100 million pounds of weekly cargo lift capacity to major cities in the United States, Europe, Canada, Mexico, the Caribbean, Latin America and Asia. American Airlines is the world's largest carrier. American, American Eagle and the AmericanConnection regional airlines serve more than 250 cities in over 40 countries with more than 3,800 daily flights. The combined network fleet numbers more than 1,000 aircraft. American provides one of the largest cargo networks in the world, with cargo terminals and interline connections available across the globe.
Current AMR Corp. news releases can be accessed via the Internet.
The address is http://www.aa.com/
American Airlines Cargo
CONTACT: Jennifer Pemberton of American Airlines Cargo, +1-817-967-1577,or corp.comm@aa.com
Web site: http://www.aa.com/http://www.aacargo.com/
Source: PRNewswire-FirstCall
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