Colombia’s President Juan Manuel Santos announced Friday his intention to eliminate jet fuel surcharges in the hopes of reducing the price of air fares in the country.
Colombia is one of the last countries to eliminate the aviation fuel surcharge, which was implemented in 2004 following an international crisis to hit the aviation industry.
“I think Colombian tourism needs more offers and more cheap airfares, and I think the market will withstand the increased competition,” the president said regarding the removal of the fuel tax. The president hopes that the fuel surcharge will be removed within the next 6 months, in order to pave the way for cheaper airfares in the future.
The fuel surcharge meant travelers in Colombia were paying almost $40 extra for every domestic flight.
Following President Santos’ announcement Friday, Caracol Radio reported that the temporary lifting of the price ceiling on airline tickets means that the flight prices could go down as soon as the changes come into effect.