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News & Topics in 2008

                                                                                                                                              March 31, 2008

                                                                                                                                     Nippon Cargo Airlines


Revision of fuel surcharges for international air cargoes departing from Japan

Nippon Cargo Airlines (NCA, headquartered in Minato-ku, Tokyo: President Tadamasa Ishida) has accelerated the renewal of its fleet, as laid out in its medium- to long-term management plan, “The Phoenix Project,” and will start operations with its new fleet of B747-400F aircraft in April. NCA has consequently revised its existing fuel surcharge system and established a new application table. The Singapore Kerosene fuel price, which is the benchmark price for NCA, has remained high since March, fluctuating between USD120 and USD130 per barrel. In response to these surging fuel prices, NCA filed an application today with the Ministry of Land, Infrastructure and Transport to revise its fuel surcharges based on the new table.

1. Applied price : TC1 and TC2 : JPY114/kg
                              TC3: JPY 97/kg

2. Effective Date : Beginning with the AWB issued on May 1, 2008

3. Details of the revision :
(1) Revision of the set prices
     Fuel surcharge for flights to the United States and Asian countries will be reduced by JPY1 at each 

     level. (Refer to the new fuel surcharge table that is attached.)

(2) Change in the number of days required for setting, revising or abolishing fuel surcharge
     [Current system] 20 consecutive business days a [After revision] 14 consecutive business days.

(3) Effective date
     Above (1) will take effect with the AWB issued on May 1, 2008.
     Above (2) will take effect on May 1, 2008.