Hainan cuts jet fuel prices for Chinese and foreign airlines - TASS

HAIKOU, July 3. /TASS/. The Hainan authorities starting from July 1 reduced aviation fuel prices for Chinese and foreign airlines at island’s three airports, reported www.hinews.cn

These are Meilan Airport in Haikou, Phoenix in Sanya and Boao in Qionghai. At all these three airports, the price per tonne for Chinese aviation fuel was reduced by 50 yuan (about $ 7), and the cost of comprehensive maintenance of aviation fuel stored in customs warehouses was reduced by $ 100 per tonne. Thus, the new outlet writes, Hainan currently has the lowest price for fuel stored in customs warehouses.

Reducing the price of jet fuel will allow Chinese and foreign airlines to take advantage of the province’s free trade port. In the near future, the website writes, Hainan will strengthen the interagency cooperation on controlling fuel prices and bringing the mechanism of their formation in line with international standards.

Air transport is the main means of transport for international traffic on the Island of Hainan. Aviation plays a key role in building the free trade port in the province. The reduction in aviation fuel prices will allow airlines to cut operating costs for flights, which will contribute to the development of the air transportation market on Hainan.