As oil shock hits skies, travelers face more fees, fewer flights
2026.03.31 14:38
Fuel surcharges for May-issued tickets could hit record highs
| Planes at Incheon Airport (Yonhap) |
Travelers are feeling the pinch from the ongoing Middle East conflict, as airlines raise fares and cut flights to cope with surging costs driven by disrupted global oil supplies.
The outlook is bleak ahead of the expected long weekend in early May, with industry officials warning that fuel surcharges for May flights could reach record highs.
On long-haul routes to the United States, fuel surcharges for tickets issued in March stood at about 100,000 won ($75) per one-way fare. By May, however, they are expected to rise to 500,000 won, a fivefold increase, according to industry officials.
Korean airlines divide jet fuel prices into 33 tiers and announce the applicable surcharge level on the 16th of each month for the following month. The surcharge stood at Tier 10 in March and rose to Tier 18 in April, reflecting higher jet fuel prices following the outbreak of the Iran conflict.
For May, however, surcharges could climb to Tier 33, the highest level on the scale, based on current fuel price trends. If realized, it would mark the highest level ever recorded in Korea’s aviation history. The previous peak was Tier 22, set during the Russia-Ukraine war in 2022.
Fuel surcharges are determined by the average jet fuel price in the Singapore spot market over a one-month period. Surcharges applied to tickets issued in April, for instance, reflect prices from Feb. 16 to March 15.
The surcharge is fixed at the time of ticket issuance, not the date of travel, and remains unchanged even if oil prices fall. Any decline in fuel costs is reflected in the following month’s surcharge.
Fuel accounts for about 30 percent of airlines’ operating costs, leaving carriers highly exposed to price volatility. But once prices exceed the highest surcharge tier, airlines have limited room to pass on additional costs to passengers.
Low-cost carriers are also being hit hard, given their smaller scale and thinner margins.
Jin Air has decided to scale back operations by trimming 45 flights in April, including services from Incheon to Guam and Nha Trang. Air Premia, which mainly operates medium- to long-haul routes, will cut around 50 flights between April and May, including services to Los Angeles, San Francisco, Bangkok and New York.
Air Busan, Eastar Jet and Aero K have also announced route suspensions or reductions across Southeast Asia and Japan, while Vietnam’s VietJet has scaled back multiple Korea-Vietnam routes, citing rising fuel costs and supply uncertainty.
On Tuesday, Korean Air, the country’s largest airline, announced it is entering an emergency management mode, becoming the third domestic carrier to adopt such measures, following T’way Air and Asiana Airlines.
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