Fri, Sep 12, 2008
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
The reduction is effective immediately. XOJET says the reduction
will save clients approximately $1000 on the cost of a round trip
"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
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.
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