International Flight Fuel Surcharge Reduction Eases Airfare Burden
Due to the decline in international oil prices, the international flight fuel surcharge is expected to reach its lowest point in three years, reducing the burden of airfare purchases.
In particular, anticipation for the upcoming short holiday in early May is expected to increase passenger numbers.
According to the airline industry, Korean Air will reduce its international flight fuel surcharges by up to 22.6% for tickets issued starting from next month.
As a result, the fuel surcharge, which ranged from 13,500 KRW to 99,000 KRW depending on the route distance, will be lowered to between 10,500 KRW and 76,500 KRW.
Asiana Airlines will also impose international flight fuel surcharges reduced by up to 21.1% starting in May.
Travelers heading abroad will now only need to pay an international flight fuel surcharge ranging from 11,700 KRW to 65,600 KRW.
Jin Air will also apply a reduced fuel surcharge, ranging from a minimum of 1 USD to a maximum of 4 USD.
The reason that major domestic airlines' international flight fuel surcharges have decreased for two consecutive months is the downward trend in Singapore jet fuel prices.
The average price from MOPS is 197.94 cents per gallon, a sharp decline from the eight-step level two months ago.
For Korean Air, the reduction of the international flight fuel surcharge application steps to five is the first occurrence since 2019.
At that time, the fuel surcharge for the shortest international route was approximately 8,400 KRW based on the shortest distance.
Fuel surcharges, which had disappeared or sharply declined during the COVID-19 period, have shown a gradual increase over the past few years, but have dropped again due to this reduction.
The industry anticipates that passenger demand will surge alongside the international flight fuel surcharge reduction ahead of the upcoming short holiday next month.
In fact, the flights to Jeju operated by major domestic airlines such as Korean Air, Asiana Airlines, and Jeju Air are mostly sold out.
Additionally, starting from Labor Day on May 1, by taking one annual leave day, travelers can plan up to six days off, leading to a significant increase in demand for overseas travel.
Image Source: Photo = Insight
