South Korean airlines will freeze their fuel surcharges on international routes in January because there has been no change in jet fuel prices, industry sources said Tuesday.
The surcharges for one-way tickets on long-haul international routes will be capped at 34,800 won ($30) next month, almost unchanged from December.
If the average jet fuel price on the Singapore spot market rises over $1.50 per gallon, local airlines are allowed to impose fuel surcharges, starting one month later.
Jet fuel prices averaged $1.79 per gallon on the Singapore exchange between Nov. 16 and Dec. 15.
If jet fuel prices drop below the threshold, no surcharge is collected. There are 10 levels of surcharges, depending on how long a route is.
Fuel surcharges on domestic routes, however, will drop by one notch to 3,300 won next month from the current 4,400 won, an industry official said. Surcharges on domestic routes are levied if the average jet fuel price hovers above $1.20 per gallon. (Yonhap)