Recently, international oil prices have continued to rise, and shipping risks in the Strait of Hormuz have intensified. The price of Brent crude oil once exceeded US$110 per barrel, and jet fuel costs have risen sharply, which has directly triggered global airlines to intensively increase fuel surcharges on international routes.Cathay Pacific's fuel surcharge for long-haul flights originating from Hong Kong has increased from HK$569 to HK$1,164, an increase of more than 100%.
Hong Kong Airlines, Japan Airlines, etc. have followed suit, and domestic Juneyao Airlines,The surcharges on many international routes such as Spring Airlines have generally increased by more than 50%, with some routes nearly doubling, and passenger travel costs have increased significantly.
Affected by the wave of price increases, many passengers rushed to buy forward air tickets in advance in order to lock in low prices, setting off a "ticket hoarding" craze.
A Shanghai citizen stocked up on two sets of international air tickets for National Day and Spring Festival at one time, with a total price of about 12,000 yuan;Guangdong tourists also purchased round-trip air tickets for the May Day holiday in advance to avoid subsequent increases in surcharges and increased expenses.
The industry predicts that there will be an adjustment window for fuel surcharges on domestic routes on April 5. The current standards of 10 yuan for flights under 800 kilometers and 20 yuan for flights over 800 kilometers are likely to be raised.
Jet fuel costs usually account for more than 30% of airlines' total operating costs, and rising oil prices have put tremendous pressure on the industry.
In addition to raising surcharges, many airlines have taken multiple measures to respond: China Eastern Airlines plans to carry out jet fuel hedging, and Cathay Pacific will hedge 30% of fuel to lock in costs; United Airlines, Scandinavian Airlines, etc. are cutting inefficient routes and shrinking capacity to ensure stable earnings.
Civil aviation experts said that the increase in fuel surcharges will directly affect travel demand. Passengers will comprehensively consider the total travel cost when choosing transportation modes, and it will be difficult for airlines to completely pass on the cost pressure.
Passengers with clear travel plans are recommended to purchase tickets in advance based on their own itinerary to reduce the impact of price fluctuations.