ALTA/IATA Fuel Committee meets in Panama
Panama, March 20, 2019 – The Fuel Committee of the Latin American and Caribbean Air Transport Association (ALTA) and the International Air Transport Association (IATA) will have its third in-person meeting in Panama City on March 20 and 21 with the aim of reviewing topics as competition and transparency, fuel taxes and infrastructure matters that concern operators in the Latin American and Caribbean region.
The meeting will be attended by representatives of 8 airlines and 11 industry suppliers.
In May 2018, the Fuel Committee held its firs in-person meeting with the aim of seeking greater transparency, open access, consistency and predictability in jet fuel prices in the region, as well as more competitive rates that allow the development of markets in Latin America and the Caribbean.
Industry suppliers have since joined as ALTA affiliate members to work hand in hand with the airlines that operate in the region. Today, ALTA has nine fuel members: Argus, CLH Aviation, Conidia, GB Energy Aviation, Terpel, S&P Global Platts, Sol, World Fuel Services and YPF, a group that continues to grow.
The committee develops synergies between airport operators, fuel suppliers, and airlines, promoting dialogues and best practices in the fuel supply with quality, safety, transparency and efficiency.
“Fuel accounts between 25% and 30% of airline costs, and our region keeps one of the highest fuel prices in the world. That is why the Fuel Committee has been working on initiatives with local focus and regional focus so that the countries of Latin America and the Caribbean region adopt more efficient, transparent and sustainable mechanisms for definition of jet fuel prices. This will allow operations to be more efficient and predictable, passengers to be directly benefited with better tariffs and countries to develop more aviation markets and, thus, the arrival of more tourists, the generation of more and new sources of employment, greater economic and social growth,” said Alvaro Godoy, ALTA’s Fuel and, Airport Taxes Manager.
As part of the activities of this meeting in Panama City, on March 21, the committee will conduct a guided tour on the recently inaugurated fuel facilities of CLH Aviación at the Tocumen International Airport (PTY).
The Fuel Committee continues to grow. ALTA members provide direct value to the campaigns led by ALTA and IATA to make the structures for the definition of fuel prices in the region more transparent, that the cost items within the formulas are justified, that the rates be in accordance with the needs of the industry in the region and that the infrastructure be developed and efficient for the mutual benefit of industry, passengers and countries.
Thank you to the sponsors that made this meeting possible: AEG Fuels, CLH Aviación, Terpel, S&P Platts, Repsol.
ALTA is a private non-profit association serving the airline industry whose objective is to develop a safer, more efficient, and sustainable aviation in Latin America and the Caribbean. ALTA coordinates collaborative efforts throughout the entire value chain maximizing the impact that aviation has on the economic and social growth of the region for the benefit of industry, nations, and populations served by air transport.
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