SEOUL, April 16 (AJP) - Fuel surcharges on international flights will rise to record-high levels next month as oil prices remain high, even as there are some hopes for an end to the prolonged conflict in the Middle East.
Both international and domestic flight routes are subject to these surcharges, which airlines adjust based on changes in the average price of fuel traded on Singapore's spot market.
According to aviation industry data released on Thursday, the average price of Singapore jet fuel, known as MOPS, soared to 511.21 cents per gallon for the period from March 16 to last Wednesday, which is used to set surcharges for May.
The persistently high price will push fuel surcharges for May to the highest level on the 33-tier scale, a jump of 15 levels from this month's level of 18, the biggest jump since the scale was first implemented in 2016.
Flagship carrier Korean Air will impose fuel surcharges ranging from 75,000 won to 564,000 won depending on routes, while Asiana Airlines, acquired by Korean Air in December 2024 and set to be fully integrated by early 2027, will charge between 85,400 won and 476,200 won.
Low-cost carriers including Jeju Air and T'way Air have yet to release their respective surcharges for the coming month, but similar levels are expected.
Accordingly, round-trip fares on long-haul routes such as those from Incheon to Europe or the U.S. are expected to rise by more than 1 million won compared with the previous month.
"Hikes in fuel surcharges are unavoidable as airlines seek to recover losses caused by high oil prices," an industry insider said. "However, higher surcharges will inevitably lead to higher ticket prices, raising concerns that travel demand could weaken ahead of the peak summer vacation season."
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