The A380 can hold approximately 315,000 litres of fuel. How much does it cost to fully fuel an A380? If the airline stops flying, such as due to the COVID-19 crisis and don’t use the fuel they’ve hedged, the airlines still have to pay for the fuel they hedged even if they don’t use it which can result in financial loses. The hedging is normally based on purchasing a set quantity of fuel. If the fuel price goes up, the airline is protected from this rise whilst if there is a drop in fuel price, the airline will be paying more for fuel than it might have done. The airline will pay $600 per metric tonne regardless of any fluctuation in price of fuel during this time.
For example, a fixed amount of fuel, lets say 5 million tonnes, might be hedged at $600 per metric tonne for 12 months. This helps an airline to reduce risk and fixed costs which can be important for financial planning. Hedging is where you agree a constant price for fuel for a set period of time into the future. The prices airlines actually pay for their fuel varies substantially depending on what price they’ve “hedged” the fuel at. As jet fuel has an approximate specific gravity of 0.85 (the measure of its density), this therefore equates to 82,300 litres.īased on these figures, the cost of the fuel required to fly from London to New York being operated by a B747 Jumbo Jet is approximately £53,500 (€64,300), which based on 450 passengers, would work out at £118 (€141 / $158) per person. At present there is no tax on aviation fuel in the UK or Europe.Ī Jumbo Jet (Boeing 747-400) flying from London to New York burns approximately 70,000 kilograms of fuel. Therefore, the price airlines actually pay for the fuel per kilogram will be higher than the figures outlined above, subject to the contract details. It should be noted that it does not include the delivery of the fuel or the fee to actually refuel the aircraft. The price of jet fuel as of January 2022 is as follows:
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(Only the headline and picture of this report may have been reworked by the Business Standard staff the rest of the content is auto-generated from a syndicated feed. Officials said the latest price hikes at the retail level were inevitable to reduce the subsidy burden on state-run distribution companies.Īlso, fuel prices in the international market are much higher than that in Bangladesh.Įxperts said the fuel price hike would worsen inflation, which increased to 7.56 per cent in June, the highest rate in about nine years. The prices of diesel and kerosene have been increased by 42.5 per cent to 114 taka per liter.Īlso, each liter of petrol now costs 130 taka, a rise of 44 taka or 51.1 per cent, said the notification. The Bangladeshi government on Friday night hiked the fuel prices by up to 51.7 per cent with effect from Saturday, reports Xinhua news agency.Īccording to a price notification from the Ministry of Power, Energy and Mineral Resources, a liter of octane now costs 135 taka ($1.43), which is 51.7 per cent higher than the previous rate of 89 taka. Bangladesh's retail fuel prices have been hiked to levels not seen since the country's independence in 1971.
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