Petrobras increased the average price of jet fuel (QAV) at its refineries by 7.27% on November 1, the Brazilian Airlines Association (Abear) said on Friday.
The readjustment of last Tuesday (1st) appears on the Petrobras website, but was not disclosed to the press. The increase refers to the comparison with average prices on October 1, according to the association.
Acelen, which operates the Mataripe refinery, in Bahia, also readjusted the fuel, on the same date, by 7.58% compared to the average price on October 1st.
According to Abear, with this week’s adjustment, the QAV accumulates an increase of 58.8% from January 1st to November 1st. Fuel accounts for about 40% of an airline’s total costs.
“The adjustment in the price of the QAV maintains an extremely difficult scenario for airlines and is a topic of constant concern for us and for the entire sector, as it represents almost half of the costs of the operation”, said the president of Abear, Eduardo Sanovicz, in note.
“It is urgent to review the QAV pricing model, as 90% of the fuel is produced here, but we pay the price of an imported product,” he added.
The current scenario of intense volatility still brings many challenges to Brazilian aviation, according to Abear.
“In addition to the QAV, the dollar exchange rate also impacts companies’ results, indexing around 50% of the sector’s costs.”
(By Rodrigo Viga Gaier and Rafaella Barros)
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
