Air passenger and cargo fares are seen to decline at the start of 2024 due to the lower fuel surcharge approved by the Civil Aeronautics Board (CAB).
Effective January 1 to 31, the passenger and cargo fuel surcharge in both domestic and international flights is pegged at level 6, lower than this month’s levela 7, based on the CAB’s latest advisory.
At level 6, the fuel surcharge for domestic flights ranges from P185 to P665 per passenger per way, and for international flights, from P610.37 to P4,538.40 per passenger per way.
The fuel surcharge is lower in January compared to this month’s P219 to P739 per passenger per way for domestic and P722.71 to P5,373.7 per passenger per way for international flights, at level 7.
The fuel surcharge is an optional fee imposed and collected by airlines to recover fuel costs and stem losses caused by an upward spike in fuel prices.
The fuel surcharge is not part of the basic airfare and may be reduced or removed depending on the price of jet fuel in the market, in accordance with prevailing international practice.
Meanwhile, the Manila International Airport Authority (MIAA) has reported a 14.6 percent increase in passenger volume at Ninoy Aquino International Airport to 2.6 million from December 1 to 20, from 2.3 million passengers recorded in the same period last year.
MIAA is confident to meet the target of 45 million passengers by year-end which is about 94 percent of 2019’s full-year passenger volume.
The Civil Aviation Authority of the Philippines (CAAP), which operates 44 domestic airports in the country, expects a 7 to 10 percent passenger volume growth this holiday season.
CAAP said passengers in all its operated airports are projected to reach 2.2 million this December, compared to 2 million domestic and international passengers recorded in the same period last year, driven by an influx of domestic passengers.
