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Airfares rise in China and beyond amid Gulf oil shock, with 9% increases feared
Surging jet fuel prices are pushing airlines – including several Chinese carriers – to raise fares, with a warning of 9 per cent price rises
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Surging jet fuel prices amid the US-Israel war on Iran are pushing global airlines including Chinese carriers to raise fares, with an industry leader warning that prices could rise by up to 9 per cent if the energy crisis continues.
China Eastern Airlines, China Southern Airlines and at least two private Chinese carriers are among a growing list of global airlines that have raised fares since US-Israeli strikes on Iran started on February 28.
Global airfares could rise by 8 to 9 per cent if fuel prices remain high, the International Air Transport Association’s director general estimated earlier this month.
Analysts said the scale of fare increases would vary according to the level of competition on specific routes, with airlines facing less competition likely to introduce bigger rises.
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