Middle East

Airlines raising fuel surcharges on international flights in March

Seoul: Korean Air plans to raise its fuel surcharges on international flights next month as jet fuel prices rise at a faster pace, industry officials said Wednesday.

According to Korean Air officials, Yonhap News Agency reported from March 1 that the additional charge for one-way tickets for international flights will range from 18,000 won ($ 15) to 138,200 won, depending on the route. ..

The plan is to raise the additional charge from the current level 6 to the highest level 10 and range it from 10,800 won to 80,400 won.

In April 2021, due to rising jet fuel prices, local airlines began imposing fuel surcharges after a year of hiatus. Due to the low oil prices caused by the Covid-19 pandemic, international fuel surcharges have remained zero since April 2020.

Additional charges for local airlines depend on the level of jet fuel prices traded in the Singapore market.

If average jet fuel prices in Singapore’s spot market have risen above $ 1.50 per gallon in the past month, Korean airlines may impose additional charges one month later.

Jet fuel prices averaged $ 2.43 per gallon in the Singapore market for the month from January 16th to February 15th. The average price is the basis for setting the jet fuel surcharge for March.

If the price of jet fuel falls below the threshold, no additional charges will be collected. There are 10 levels of additional charges, depending on the length of the route.

On domestic flights, the fuel surcharge will rise from 5,500 won this month to 8,800 won next month.

https://www.siasat.com/airlines-to-raise-fuel-surcharges-on-international-routes-in-march-2277108/ Airlines raising fuel surcharges on international flights in March

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