Manila: President Ferdinand R. Marcos Jr. presided over a meeting with the Private Sector Advisory Council (PSAC) to discuss measures to cushion the impact of oil price fluctuations on the air transport sector.

According to Philippines News Agency, during the meeting, Marcos and PSAC identified several measures to mitigate the immediate effects of rising fuel costs on air transport, as highlighted in a statement from the Presidential Communications Office (PCO) on Thursday. Marcos emphasized the importance of ensuring affordability, operational stability, and minimal disruption to mobility and supply chains.

The statement also noted that President Marcos underscored the administration's commitment to work closely with the aviation sector in pursuing additional measures to secure a steady supply of oil and fuel amidst global tightening, aiming to cushion the impact of price increases on the traveling public.

The Department of Transportation briefed President Marcos on the Civil Aeronautics Board's (CAB) adoption of a 15-day airfare price monitoring and implementation cycle. This cycle governs the imposition of passenger and cargo fuel surcharges on domestic and international flights. The CAB's latest move aligns with Marcos' directive to create a more responsive mechanism to jet fuel price volatility, helping to temper fare adjustments.

Furthermore, the Civil Aviation Authority of the Philippines approved the reduction of passenger service and airport navigation charges at government-operated airports. This initiative is designed to provide temporary relief for airlines and passengers due to the gradual increase in airfare prices, offering temporary cushioning to businesses facing these challenges.