27 Mar '11, 9pm

Higher airfares on the horizon?

SINGAPORE - Rising fuel prices will have a more severe impact on legacy carriers than budget airlines, analysts say. Analysts at RBS say a US$10- increase in the price of a barrel of fuel will likely reduce airlines' operating profits by between 20 and 28 per cent. Fuel expenses account for up to 40 per cent of operating costs for some carriers. And a further rise in oil prices could mean higher fares and surcharges for passengers, especially those travelling for leisure. The International Air Transport Association (IATA) estimates that for every US$1 increase in oil price per barrel, the airline industry needs to recover US$1.6 billion (S$2 billion) in additional costs. Aviation analysts say airlines will pass on these rising fuel costs to consumers in the form of fuel surcharges and increased airfares. And they say legacy airlines will lose more than budget carriers. "Th...

Full article: http://www.todayonline.com/Business/EDC110328-0000047/Hig...

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