Russian Airlines Lose Billions on Fuel
Compensation can be obtained at a price of kerosene over 48.3 thousand per ton, which corresponds to about $ 70 per barrel of oil. Now it is about 45 thousand. For this, additional oil and gas budget revenues will be used.
In S7, they told the Russian media that they see risks in the implementation of this measure. “The amount of compensation will depend on the level of export alternative, and not on the actual price at which airlines will buy fuel at Russian airports. Airlines' fuel costs will actually be fixed at current high levels”, the company’s press service said.
According to representatives of S7, a more effective measure to reduce the growth of prices for air tickets would be the introduction of a floating excise tax reimbursement rate for aviation kerosene, tied to the current exchange price at the St. Petersburg International Commodity Exchange, the historical exchange price in the Russian Federation and inflation.
According to Aeroflot's Deputy General Director for Commerce and Finance, Andrei Chikhanin, in 2018, 31% of the company's expenses (almost 182 billion rubles) accounted for just fuel, 15% for aircraft leasing and 14% for personnel.
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