Akasa Air joins airlines raising fares, introduces ₹199-₹1,300 fuel surcharge as oil prices spike over West Asia war

Akasa Air introduces ₹199-₹1,300 fuel surcharge as West Asia tensions push oil prices higher. Rising aviation fuel costs are forcing airlines to increase ticket fares across several domestic routes.

Akasa Air announced fuel surcharge of ₹199 – ₹1,300 on air tickets citing the increase in aviation turbine fuel price. Air passengers will now have to pay fuel surcharge on domestic as well as international flights. Rising jet fuel prices have prompted budget airline Akasa Air to levy a fuel surcharge ₹199 to ₹1,300. It said that from March 15, air travellers booking tickets with the airline will face this extra expense.

Jet fuel prices continue to rise by leaps and bounds pushing airlines operating costs through the roof leading several airlines to increase fares and levy fuel surcharges.

Jet fuel prices soar amid West Asia tension

Jet fuel prices had skyrocketed overnight after West Asian tension caused crude oil prices to surge. ATF constitutes a major part of the operating expense of airlines and its prices have gone up due to concerns over supply disruptions arising from the conflict.

Fuel expense can constitute up to 40 percent of an airline’s operating costs. Aviation turbine fuel prices have been on the rise as crude oil prices have been soaring across the world. Airlines sometimes pass on part of this burden to flyers in the form of fuel surcharges or hike air ticket prices.

Add India.com as a Preferred Source

Also read: Air India announces 80 flights To Dubai, Abu Dhabi, Muscat, Jeddah and Riyadh from India – Check routes and details

Akasa Air hikes fares; here’s what others are doing

Akasa Air isn’t the only airline that has increased fares recently. Indian carriers such as IndiGo, SpiceJet and Air India have also taken similar measures or announced their future plans to do so.

Air India just announced its three-tier fuel surcharge that will be applicable to both domestic and international flights while Indigo also announced a hike following jet fuel prices spiking.

Oil prices have been rallying after the Russia-Ukraine crisis began and airlines across the globe are also raising fares. Carriers such as Qantas, Cathay Pacific and Air France-KLM have also hiked fares as airlines grapple with rising fuel prices and flight disruptions due to Russia-Ukraine crisis.

Fuel prices trigger panic in aviation sector

Aviation companies are facing pressure due to rising fuel prices and flight suspensions. Airlines had said if crude oil prices continue to stay high, airfares are likely to see further increase in the coming months as well.

Jet fuel prices have been increasing as crude oil prices reach record highs and airlines can no longer absorb the cost. Industry experts say carriers are forced to levy fuel surcharge on passengers or increase fares as absorbing such a big cost will not be feasible for them.

This is likely to pinch passengers

Air passengers are likely to get affected by these developments as air travel is expected to get costlier. Flight bookings are likely to increase in the coming days before airfares are increased further as people will want to take advantage of the lower fares being offered.

Travellers can look out for early bird discounts, promotions and alternate travel dates to save money while flying. Aviation companies are waiting with bated breath to see how things unfold in the coming weeks. Until then, air passengers are likely to feel the heat.