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MANILA,[url=http://www.mcm-handbags.net]mcm bags[/url], Philippines - Tiger Airways Philippines is set to raise fares for its international routes as it seeks the approval of the Civil Aeronautics Board (CAB) to impose higher fuel surcharge.Tiger Airways said it is seeking an upward adjustment of fuel surcharge of between six percent and as much as 22 percent on international passenger tickets due to the rising cost of aviation fuel in the world market.The airline wants to raise the fuel surcharge on Clark to Singapore passengers 7.5 percent to P860 per passenger from P800 as well as Clark to Bangkok passengers by about six percent to P900 from P850.The low-cost carrier also intends to hike by 22.2 percent the fuel surcharge imposed on passengers of Kalibo to Singapore flights to P1,100 per passenger from P900.The CAB allows airlines to impose fuel surcharge on international and domestic passengers as a temporary relief to help them recover losses arising from the increase in jet fuel prices in the world market.Latest results of the Jet Fuel Price Monitor of the International Air Transportation Association (IATA) showed that average price of jet fuel rose 1.1 percent to $127 per barrel from a month ago, exceeding the full year target of $124.5 per barrel set by IATA. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Last July, Tiger Airways has already raised the fuel surcharge for its flights to Singapore and Bangkok via the Clark International Airport in Pampanga and Kalibo International Airport in Aklan.The local unit of Singapore’s Tiger Airways is undertaking a massive re-fleeting program as it initially intends to triple its revenues and increase its market share in the local aviation industry starting this year.The budget airline intends to beef up its existing fleet of five aircraft consisting of two Airbus A320 and three A319 aircraft to 25 within the next three to five years. It intends to acquire at least three to four aircraft per year over the next three to five years.Tiger Airways chief executive officer Olive Ramos said the airline expects revenues to increase by half in the next fiscal year to P7.5 billion from about P5 billion this fiscal year due to robust demand.After launching flights to Phuket in Thailand, the airline is looking at other destinations such as Japan and South Korea.In August last year Tiger Airways, through wholly-owned subsidiary Roar Aviation II Pte Ltd, acquired a 40-percent stake in Seair for a total consideration of $2.5 million. The investment in Seair is Tiger’s second joint venture after it acquired a 33-percent stake in Mandala Airlines in Indonesia.The other 60 percent of Tiger Airways Philippines is owned by a group of Filipino businessmen.
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