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News & Topics in 2008

                                                                                                                                             May 29, 2008

       Application to revise fuel surcharges for flights departing from Japan

Nippon Cargo Airlines (NCA headquartered in Minato-ku, Tokyo: President Tadamasa Ishida) filed an application on May 28 with the Ministry of Land, Infrastructure and Transport to revise its fuel surcharges for flights departing from Japan. The fuel surcharges will be increased to JPY135/kg for TC1, JPY135/kg for TC2 and JPY115/kg for TC3 destinations. These new prices will take effect on July 1, 2008.

NCA has set a fuel surcharge price of around US$110 per barrel, which has been the Singapore Kerosene fuel price since May 1. The cost of aircraft fuel has continued to rise rapidly and to unprecedented levels, with the Singapore Kerosene fuel price at around US$125 per barrel for 14 consecutive business days since April 2. On May 9, the price went through the US$150 per barrel level and continues to remain high, even exceeding US$160 per barrel on May 14.

Due to this prolonged period of high fuel prices, NCA is forced to seek customers’ cooperation in sharing the burden of the fuel surcharge. NCA has decided that efforts on the part of NCA’s management alone are not sufficient to counteract the abnormal surge in fuel cost, and thus must reluctantly file an application with the government to revise its fuel surcharge.

1. New applied price: TC1 (mainly to North and Latin America) JPY135/Kg
                                 TC2 (mainly to Europe, Africa and the Middle East) JPY135/Kg
                                 TC3 (mainly to Asia and Oceania) JPY115/Kg

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