Aeroflot agrees on fixed jet fuel pricing with Russian oil companies
12-Nov-2008 |
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Aeroflot has agreed on a new jet fuel pricing formula with several Russian oil companies as part of the Russian government's programme to stabilise fuel prices. The Gazprom-led group of oil companies will sign long-term contracts with Russian airlines incorporating a fixed pricing formula for the entire contract period.
Price quotations by Platts, a leading global provider of energy information, will be used as the basic benchmark indicator for determining the price formula.
Aeroflot's Chief Executive Officer Valery Okulov said, “The newly agreed jet fuel pricing formula will be an effective instrument enabling Russian airlines, like Aeroflot, to become more flexible when planning fuel expenses and hedging risks connected with price fluctuations.”
(c) Centre for Asia Pacific Aviation. Date posted: 12-Nov-08
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Aeroflot agrees on fixed jet fuel pricing with Russian oil companies 
