ANA to Revise Fuel Surcharge on International Cargo

TOKYO February 26, 2008 - ANA today applied to Japan’s Ministry of Land, Infrastructure and Transport to revise upwards its surcharge on international cargo shipments from April 1, 2008.

Since October last year ANA has fixed its fuel surcharge for a three month period, with any revision based on the average price of jet fuel for the three months immediately preceding the time of the application. For the three month period from November 2007 to January 2008, Singapore kerosene - as reported by the US Department of Energy - averaged US$109.06 per barrel; currently it remains at a historical high of over US$110 per barrel.

ANA continues to strive to curb costs and secure greater operating efficiencies, however it regrets that it must ask its valued customers to once again share the increased cost burden.
 
Revised fuel surcharge for international cargo (yen/ kilo)
 
The surcharge will remain at the revised level until June 30, 2008, regardless of movements in the energy market.
 
The next revision, coming into force on July 1, 2008, will be based on the average market price of Singapore kerosene for the three months from February to April 2008 as reported by the US Department of Energy. The surcharge will be reduced if the average market price of Singapore kerosene falls below US$105 per barrel for three consecutive months, and thereafter as the market price continues to fall, measured in units of US$5. Likewise it will be discontinued completely if the average market price drops below US$30 per barrel for three consecutive months. Please refer to the chart below for details.
 
Level of fuel surcharge (yen) in line with falling three month average price of Singapore kerosene
 
Contact
Rob Henderson: r.henderson@ana.co.jp