Gee... We Wonder If Airlines Will Follow Suit?

Growing fractional charter provider XOJET announced an unprecedented move Friday, one that we can only hope other charter providers -- and some commercial airlines -- will emulate. XOJET announced it has reduced its fuel surcharge for on-demand flights, put in place in the wake of record-high oil prices, by 9 percent.

The reduction is effective immediately. XOJET says the reduction will save clients approximately $1000 on the cost of a round trip transcontinental flight.

"XOJET has done something that is essentially unprecedented -- lowering a fuel charge after it's been implemented," said Adam Komack, chief marketing officer for XOJET. "For us, the decision is simple. A surcharge is a necessity to offset costs that are out of our control; it should never be confused with a revenue stream or a means of nickel and diming clients. If the price of oil goes down, the surcharge should be reduced as well."

Though industry watchers are keeping a close eye on the potential, negative impact Hurricane Ike will have on prices, the cost of a barrel of oil has plummeted in recent weeks, falling from a high of $147 per barrel to Thursday's price of just above $100.

Founded in 2006, XOJET flies an all-new fleet of Cessna Citation X business jets. Backed by global investment firm TPG, the company combines private jet ownership, leasing and on-demand travel.

FMI: www.xojet.com