"We have increased fuel surcharges on Europe. However, this is blended in the total price. What we're also doing is currently raising fares on peak travel dates and routes where we see less competition, where we have more flexibility."
"Several international airlines have added fuel surcharges—an extra fee tacked onto airfare to cover unforeseen oil costs—to account for a spike in jet fuel prices since the U.S. and Israel attacked Iran on Feb. 28, the start of a regional war that has disrupted the global supply of oil."
"Air Transat's Pruneau told investors tickets that have already been sold can be repriced, and said that if the company were to raise fares immediately it would see 'a negative impact on demand.'"
Air Transat has increased fuel surcharges on European flights and raised fares on peak travel dates and less competitive routes in response to soaring jet fuel prices. The price spike stems from the U.S. and Israel's attack on Iran on February 28, which initiated regional conflict disrupting global oil supplies. Multiple international carriers including Air New Zealand, Qantas Airways, and Scandinavian Airlines have announced fare increases. Some airlines like Lufthansa and Ryanair employ hedging systems to lock in fuel prices temporarily. Air Transat notes that repricing already-sold tickets could occur, though immediate fare increases risk reducing demand. The airline is exploring additional cost-saving measures to manage the financial impact.
Read at www.cbc.ca
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