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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Korean Air and Asiana Airlines will sharply increase domestic fuel surcharges next month, raising fees by more than four times compared to April levels, as global oil prices surge.
According to industry sources on April 6, both airlines announced that one-way domestic fuel surcharges will rise from KRW 7,700 in April to KRW 34,100 in May. For round-trip tickets, passengers will pay KRW 68,200 in fuel surcharges alone.
Domestic fuel surcharges are calculated based on the average price of jet fuel traded in the Singapore spot market (MOPS) over a prior two-month period. While April applied Level 5 pricing, May will reflect Level 18 due to a sharp increase in fuel costs, driven in part by geopolitical tensions between the United States and Iran. Average jet fuel prices jumped from $2.12 per gallon in February to $4.65 in March.
The increase follows earlier hikes in international fuel surcharges. Korean Air raised one-way surcharges on U.S. routes—including New York, Dallas, Boston, Chicago, Atlanta, and Washington, D.C.—from KRW 99,000 to KRW 303,000. West Coast U.S. and European routes saw increases from KRW 79,500 to KRW 276,000.
Similarly, Asiana Airlines increased surcharges on U.S. and European routes from KRW 78,600 to KRW 251,900, while Southeast Asia routes such as Bangkok, Singapore, and Phuket saw significant hikes as well.
Low-cost carriers (LCCs) are also expected to announce higher domestic fuel surcharges for next month in the coming days.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
