Qantas lifts domestic, trans-Tasman airfares
Qantas will increase domestic, regional and Tasman airfares by up to five percent for tickets issued on or after February 25.
Qantas last week announced increases to its international fuel surcharges for tickets issued on or after February 19.
Jetstar will also address the impact of higher fuel prices on its domestic and international operations via adjustments to airfares in selected markets and increases in ancillary revenue, including baggage charges.
Qantas CEO Alan Joyce, said that, having removed domestic, regional and Tasman fuel surcharges in early 2009, a modest fare increase was the most appropriate way to recover some of the higher fuel costs for these operations.
Qantas said the price of Singapore Jet Fuel has increased from an average of US$88 a barrel in September 2010, to US$110 a barrel in January 2011, to US$117 a barrel today.
The airline said it has hedged 74 percent of its remaining fuel requirement in FY11 at a worst-case crude oil price of US$95.48 per barrel.
Ian Jarrett
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