Due to Crude oil and kerosene prices down in recent weeks, Swiss World Cargo, Lufthansa Cargo, Lan Chile Cargo between others reduces fuel surcharge.

Swiss World Cargo have decided to suspend the third tranche of the fuel surcharge of EUR 0.05. As a result, this surcharge will now be EUR 0.15 per kg (actual weight). This measure enters into force on April 14, 2003.

Lufthansa Cargo, is reducing its fuel surcharge on April 21 from 0.20 to 0.15 euros per kilo of actual freight weight. The cargo carrier's fuel price index, based on the average price on the world's five major spot markets, has for two weeks dipped below the critical level of 170 points. Consequently, Lufthansa Cargo is now cutting its fuel surcharge in accordance with the procedure adopted in January 2002 for imposing, increasing, reducing or discontinuing a fuel surcharge to make it readily understood by customers.

LanChile Cargo will reduce the fuel surcharge for all international cargo as of April 22nd, 2003. The new surcharge will be USD 0.15 / kg and Euro 0,15 / kg for cargo sent from Europe.

Separately, and following the recent developments in Iraq and the trend towards normalization in terms of air space restrictions in the Gulf regions, Lufthansa Cargo and Cargolux Airlines between others are annuling its War Risk Surcharge. The war risk surcharge had been implemented last month in order to compensate for additional costs and operational risks generated by air space restrictions by several Gulf States. This had translated to lower payloads, longer routings and higher fuel, handling and equipment costs for the concerned airlines.

Lufthansa Cargo is annuling its War Risk Surcharge of 0.10 euros to be cancelled from April 21 2003 since regular flights to all stations in the Near and Middle East will resume in the week after Easter.

Cargolux Airlines has decided to cancel its war risk surcharge on all shipments effective 21 April 2003. The Luxembourg-based company has decided to cancel the 0.10 Euro/kg war risk surcharge - or equivalent in local currency - on all shipments.