Korean Air and Asiana Airlines planes lined up at a local airport. (Yonhap)
South Korean airlines will raise fuel surcharges on international routes next month amid rising jet fuel prices, industry sources said Monday.
Starting June 1, the surcharge for one-way tickets on international routes will range from 3,600 won ($3.20) to 20,400 won depending on the routes, according to the sources.
The amount is up one level from the band of 1,200 won to 9,600 won for this month.
Rising jet fuel prices prompted local air carriers to begin imposing fuel surcharges in April after a one-year hiatus. Fuel surcharges on international routes had stayed at zero since April last year due to low oil prices sparked by the COVID-19 pandemic.
Local airlines' surcharges depend on the level of jet fuel prices traded on the Singaporean market.
If the average jet fuel price on the Singapore spot market rises over $1.50 per gallon during the past month, South Korean airlines are allowed to impose fuel surcharges starting one month later.
If jet fuel prices drop below the threshold, no surcharge is collected. There are 10 levels of surcharges, depending on the length of the route.
Jet fuel prices on the Singapore market averaged $1.67 per gallon between April 16 and Saturday, up from $1.55 a month earlier.
According to the International Air Transport Association, jet fuel prices closed at $73.39 per barrel on May 7, up 9.7 percent from the previous month.
Meanwhile, local airlines' fuel surcharges on domestic routes will remain unchanged at 2,200 won in June. Airlines started to levy fuel surcharges on domestic routes in April, ending their no-surcharge policy that began in May last year. (Yonhap)