Korean Air will increase international air fares by up to 10 percent in August.
The airline yesterday informed the Ministry of Land, Transport and Maritime Affairs of its decision to raise fares between Incheon International Airport and destinations in North America, Europe and Oceania between five and 10 percent.
Passengers on flights headed for the US and Canada will have to pay five percent more, and those bound for Europe, Australia and New Zealand will have to pay 10 percent more. This applies to all classes.
Airlines can raise prices on these routes at their own discretion; they only need to inform the government. This is not the case for flights to China, Japan and Southeast Asia where they have to obtain official permission to hike fares.
According to a Korean Air spokesperson, the move was a response to “growing fuel and other operating costs”. Other reasons included surging outbound travel demand, improving economic conditions and strengthening of the Korean Won.
The official added: “We haven’t been able to reflect the overall consumer price growth in our air fares over the past few years.”
Asiana Airlines is expected to follow its rival’s footsteps, although their official statement yesterday pictured them “contemplating many options” and taking “a wait-and-see approach for the time being”.
Earlier this month, Korean Air and Asiana Airlines raised fares by 10 percent on flights between Jeju and other domestic cities in time for the summer holidays.
For more details, visit www.koreanair.com
Margie T Logarta