MENZIES AVIATION GROUP TO APPLY WAR RISK INSURANCE SURCHARGE
Menzies Aviation Group said it will add a world-wide war risk insurance surcharge to its handling services, effective Feb. 1.
The action is a direct result of substantial increases in Menzies' insurance premiums following Sept. 11, the company said.
The 2-percent surcharge will be applied to airline customers' invoiced charges, except cargo handling in the United Kingdom, where a charge of $7.50 per export or transshipment ton will be levied.
“Just like our airline customers, we must recover these costs,” said Peter Smith, chief executive officer of Menzies Aviation Group, in justifying the surcharge.