A YEAR after it took to the skies, Jett8 Airlines Cargo - Singapore's first privately-owned cargo carrier - is gearing up for an expansion.
The growth comes as sky-high jet fuel prices - which have doubled in a year to average almost US$170 a barrel today - have forced other carriers to cut capacity and, in some cases, even cease operations.
Jett8 now operates two services - one between Singapore and Hong Kong; and the other connecting Singapore to Dubai in the Middle East, Manchester in Britain and Luxembourg in Europe.
These will be bumped up to five services in the first week of next month, chairman and chief executive Louis Tan said on Monday.
The airline will continue to fly to Hong Kong, but will cease operations in Dubai, Manchester and Luxembourg at the end of the month.
To cope with the soaring oil prices, the airline, which now operates two Boeing 747-200 freighters, will soon add a third aircraft, a B747-400, Mr Tan said.
'The 747-400 burns 15 per cent less fuel and has 15 per cent more capacity than the 747-200, so it is more economical, especially for long-haul flying,' he explained.
Another aircraft is coming in October.