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- 2 MAY 1978
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TO PRIORITY F C O TELNO 548 OF 1 MAY 1978
INFO WASHINGTON.
YOUR TELNO 336: HONG KONG/USA AIR FARES: CURRENCY PROBLEMS.
WE AGREE WITH YOU PARA 2 AS A LINE OF REPLY TO ATWOOD. IN ILLUSTRATION OF THE FIRST POINT, THE ECONOMY FARE HKG/SFO IS FCU 656 OR HKD 3662 WHEREAS THE ECONOMY FARE SFO/HKG IS FCU 656 OR USD 656. 3662 DIVIDED BY 656 GIVES 5.582317 IN CONTRAST TO THE
CURRENT MARKET EXCHANGE RATE OF 4.597. THIS INEQUITY DOES NOT APPLY IN THE CASE OF A NON-IATA AIRLINE, SUCH AS NORTH-WEST AIRLINE, WHICH CHARGES USD 656 FOR ECONOMY FARE HKG/SFO.
2. THE LETTER COULD USEFULLY TOUCH ON THE PROBLEM AS IT RELATES
TO CARGO RATES AS WELL AS AIR FARES (SEE MY TELNO 523 OF 25 APRIL).
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