Korean Air Lines and Asiana Airlines decided to raise next month's domestic fuel surcharges to about 4.5 times the previous month. The two carriers recently made steep hikes to international fuel surcharges as global oil prices surged due to the war between the United States and Iran, and now they will raise domestic surcharges as well.
According to the aviation industry on the 6th, Korean Air Lines and Asiana Airlines said on their websites that they will raise the one-way domestic fuel surcharge from 7,700 won in April to 34,100 won in May. On a round-trip ticket basis, starting next month, 68,200 won will be added just for the fuel surcharge when issuing a domestic ticket.
Domestic fuel surcharges are set in 25 tiers based on the average price (MOPS) of jet fuel transacted in the Singapore spot market from the 1st to the last day of the month two months prior. The domestic fuel surcharge applied tier 5 in April, but with oil prices jumping in March due to the effects of the war between the United States and Iran, tier 18 was reportedly reflected for May. The average jet fuel price rose from $2.12 per gallon in February to $4.65 in March.
Airlines had earlier made sharp increases to international fuel surcharges applied this month. International fuel surcharges are calculated based on the average price of jet fuel transacted in the Singapore spot market from the 16th two months before ticketing to the 15th one month before.
Korean Air Lines raised the one-way fuel surcharge on transpacific routes departing Incheon for New York, Dallas, Boston, Chicago, Atlanta, Washington, D.C., and other U.S. destinations from 99,000 won last month to 303,000 won this month. It also raised the one-way fuel surcharge on routes from Incheon to the U.S. West Coast such as Los Angeles (LA) and San Francisco, and to Europe such as London, Paris, and Rome, from 79,500 won to 276,000 won.
For Southeast Asia routes, the fuel surcharge on routes from Incheon to Bangkok, Phuket, Singapore, Ho Chi Minh City, Nha Trang, and Guam rose from 39,000 won to 123,000 won.
Asiana Airlines also raised the fuel surcharge on routes from Incheon to the United States and Europe from 78,600 won to 251,900 won. The Incheon–Phuket and Singapore routes rose from 46,600 won to 147,900 won, and the Incheon–Bangkok, Ho Chi Minh City, Nha Trang, and Chiang Mai routes rose from 40,800 won to 127,400 won, respectively.
Low-cost carriers (LCCs) that joined Korean Air Lines and Asiana Airlines in raising international fuel surcharges plan to finalize and announce next month's domestic fuel surcharges within days.