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Qantas raises fuel surcharges again

Qantas raises fuel surcharges again

Qantas (ASX:QAN) has raised its fuel surcharges again in response to growing oil and jet fuel prices.

The company will increase the surcharge for trips to the UK and Europe by $100 to $290, and to mainland USA and Canada by $150 to $250.

Prices for most other international flights will increase by between $40 and $50.

Qantas will also implement a $10 surcharge for domestic flights and $20 for some trans-Tasman trips.

The new charges will apply from April 28. Qantas CEO Alan Joyce said the increases were necessary given the soaring cost of oil prices, which is a growing concern for the aviation industry.

“After fuel hedging, fuel surcharges and fare increases, Qantas will still not fully recover these higher fuel costs,” he said.

He claimed the revised surcharges still cover less than half of the expected increase in fuel cost for Qantas' international business for the next year.

Qantas is expecting to spend $2 billion on fuel in the second half of this financial year, Joyce said, a $300 increase from the first half.

QAN shares fell 0.47% during Tuesday's trading to $2.110.

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Tags QantasAlan JoyceOilflightsASX:QAN

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