WORLDWIDE – High airfares could become the new norm as airlines contend with soaring jet fuel prices and mounting operating costs, according to Chief of the Association of Asia Pacific Airlines, a grouping 18 airlines in the region.
The director-general said carriers were trying to contain ticket prices while protecting their finances and avoiding fare increases that could drive passengers away.
Major airlines across the Asia-Pacific, Europe and North America have raised base fares, hiked fuel surcharges or added extra fees since the Iran War began in late February.
Fuel, which accounts for a third of operating costs, was about $80 a barrel a year ago, compared with around $180 currently.
