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CAAC to Cut Air Ticket Prices
Civil Aviation Administration of China (CAAC) has decided to reduce the price of domestic air flights.
It ruled, beginning February 6, the officially-permitted hike range above a standard price will be cut to 14 percent from 20 previous percent, which was set last year.
Following oil price rises on the world markets last year, the State Development Planning Commission decided last October to raise domestic air fares by up to 20 percent. The commission also ruled that domestic airlines are permitted to increase or decrease fares by 3 per cent when international oil prices fluctuate by more than 10 per cent.
The current fare adjustment is made because from last November, world oil price has dropped more than 20 per cent.
However, the CAAC said that the maximum price increase should be less than 150 yuan (US$18) for one-way economy ticket. The tickets for children and infants will be 50 percent and 10 percent of the increased fares respectively. (China Daily)
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