SWISS also responds to high price of fuel

18. May 2004

In response to the steady rise in the price of oil on the world market, SWISS is increasing all fares from Switzerland by three per cent. In markets outside Switzerland the amount of the increase will vary depending on similar measures taken by competing airlines. This measure is effective Thursday, May 20.

Oil market experts see no immediate price relief in sight. The uncertain political situation in the Middle East and increasing demand from China have pushed the world price of oil to its highest level in 13 years.

Various major airlines around the world have already introduced a fare surcharge or are considering a similar step. SWISS will continue to monitor the aviation fuel market carefully.

Fuel costs account for approximately 12 per cent of SWISS’s total costs.The fuel surcharge on cargo rates was raised from 15 to 20 Eurocents per kilo on May 10.