Business & Finance
Airline group chief says high airfares may persist amid fuel surge
Association of Asia Pacific Airlines chief Wong Hong links the outlook to jet fuel near $180 a barrel.
The short version
- Wong Hong of the Association of Asia Pacific Airlines said elevated airfares could persist.[Associated Press · PBS NewsHour]
- He cited jet fuel near $180 a barrel versus about $80 a year earlier, with fuel about a third of operating costs.[Associated Press · PBS NewsHour]
- Major airlines in Asia-Pacific, Europe and North America have raised fares, surcharges or fees since the Iran war began in late February.[Associated Press · PBS NewsHour]
- AAPA data show regional passenger traffic fell for five straight months, then slightly rebounded in September, and grew 1.9% over nine months.[Associated Press · PBS NewsHour]
Key facts
- Wong Hong, director-general of the Association of Asia Pacific Airlines, said high airfares could become the new norm as airlines face soaring jet fuel prices and rising operating costs.[Associated Press · PBS NewsHour]
- Wong said jet fuel was about $80 a barrel a year ago and around $180 currently.[Associated Press · PBS NewsHour]
- Wong said fuel accounts for about a third of airline operating costs.[Associated Press · PBS NewsHour]
- Major airlines across 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.[Associated Press · PBS NewsHour]
- AAPA data showed Asia-Pacific passenger traffic fell for five consecutive months from April to August, then rebounded marginally in September.[Associated Press · PBS NewsHour]
- AAPA data showed regional passenger traffic grew 1.9% over the first nine months of the year.[Associated Press · PBS NewsHour]
What remains uncertain
- Whether high airfares will persist is Wong's projection, not a confirmed trend.[Associated Press · PBS NewsHour]
- The reporting does not specify which airlines raised fares or by how much.[Associated Press · PBS NewsHour]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.
- High airfares may become new norm as jet fuel costs soar, says Asia-Pacific airline industry chiefPBS NewsHour - World · Wire: associated-press
- High airfares may become new norm as jet fuel costs soar, says Asia-Pacific airline industry chiefAssociated Press · Wire: associated-press