British Airways World Cargo Decreases Fuel Surcharge (24/04/2003)

British Airways World Cargo today announced that it has decreased its fuel surcharge to GBP0.06/kg or local currency equivalent, effective from 8th May 2003. This follows the announcement on 10th April of a decrease in the fuel surcharge to GBP0.09/kg effective 24th April.

The decrease to the fuel surcharge has been caused by the continued fall in fuel prices, causing the fuel index to decrease below the level 2 threshold for two consecutive weeks.

The index was developed by British Airways World Cargo to provide customers with more information about the calculation of fuel surcharges. It is updated on a weekly basis and posted on the British Airways World Cargo website.

Based on the fuel index methodology, if the fuel index decreases below 125 for two consecutive weeks the fuel surcharge will be reduced to GBP0.03/kg or local equivalent.

For the latest fuel index graph please see the new Surcharges section of this web site.

Calculation of Charges
The British Airways World Cargo fuel index is based on the average price of aviation fuel in four key spot markets; North West Europe, Singapore, Los Angeles and US Gulf. These averages are monitored against a fixed base of USD 0.513 per US Gallon, equal to index 100, and from this a weekly fuel price index will be published. Fuel surcharges will be determined when the index reaches specific trigger points as shown in the table below for two consecutive weeks:

This index is a guideline only. British Airways World Cargo reserves the right in its discretion to apply different rates where required by local government, legislative bodies or commercial considerations. British Airways World Cargo reserves the right in its discretion to suspend the index at any time, and to change rates without notice.