SYDNEY, March 24 (Reuters) - Australia's top airline Qantas has raised airfares to offset rising fuel costs that is threatening airline profits.
Qantas said it will raise fares by up to A$10 per sector in domestic and regional fares for tickets issued on or after March 31 and Tasman fares will go up by as much as 8 percent. The fare increases come on top of two increases in fuel surcharge.
Qantas Chief Executive Officer Alan Joyce said in a statement the current situation presented a significant threat to airlines in Australia and around the world.
'Since international fuel surcharges and domestic fares increased last month, jet fuel prices have increased by a further 15 per cent, to more than US$134 per barrel today.'
(Reporting by Narayanan Somasundaram) Keywords: QANTAS AIRFARES/ (narayanan.somasundaram@thomsonreuters.com)(+61 2 93731815)(Reuters Messaging: narayanan.somasundaram.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Qantas said it will raise fares by up to A$10 per sector in domestic and regional fares for tickets issued on or after March 31 and Tasman fares will go up by as much as 8 percent. The fare increases come on top of two increases in fuel surcharge.
Qantas Chief Executive Officer Alan Joyce said in a statement the current situation presented a significant threat to airlines in Australia and around the world.
'Since international fuel surcharges and domestic fares increased last month, jet fuel prices have increased by a further 15 per cent, to more than US$134 per barrel today.'
(Reporting by Narayanan Somasundaram) Keywords: QANTAS AIRFARES/ (narayanan.somasundaram@thomsonreuters.com)(+61 2 93731815)(Reuters Messaging: narayanan.somasundaram.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.