China cut the price of wholesale jet fuel by 1.3 percent, helping domestic carriers compete with international rivals.
The government cut the cost of jet kerosene by 80 yuan to 6,100 yuan (US$869) a ton as of April 1, said Rao Xinyu, head of investor relations at Air China Ltd.
The move may support Chinese carriers as foreign airlines including Cathay Pacific Airways Ltd and Singapore Airlines Ltd aim to expand operations in the country. China Aviation Oil Holdings Co, which controls the nation's pricing and supply of jet fuel, cut the price even as crude oil surged to record this year.
(Shanghai Daily April 3, 2008)
