Here are the airlines raising fares amid wild oil-price swings

Airlines across Europe and Asia are increasing fares and raising fuel surcharges as the Iran war sends oil prices swinging wildly and stokes fears of jet-fuel shortages if the fighting persists. Demand for alternative routes that bypass the Middle East is also surging, pushing up ticket prices. More than 43 000 flights scheduled in and out of the Middle East were canceled between February 28 and March 10, according to data from analytics firm Cirium.

Here is a rolling list of airlines that have announced increases to fares and fuel surcharges: Southeast Asia’s biggest budget carrier has raised fares and adjusted fuel surcharges, but without specifying by how much. The airline said it will “dynamically monitor market conditions and react proactively as and when needed.” Air India and Air India Express will phase in fuel surcharges across domestic and international routes from March 12. The airline said March 10 it will raise fares by an unspecified amount, and may need to take further pricing action and adjust its network and schedule if fuel costs remain elevated.

The company also suspended its earnings guidance, saying assumptions on fuel costs announced late last month are no longer valid. Cathay Pacific Airways Ltd. is doubling its passenger fuel surcharge starting March 18.

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The levy on a long-haul flight will rise to HK$1,164 ($149) from HK$569. Short- and medium-haul surcharges will increase by a similar ratio, according to the carrier. In the aftermath of Russia’s invasion of Ukraine, the Finnish carrier pivoted to relying on a long-haul network that flew to Doha and Dubai.

The airline has canceled all flights through those cities at least through the end of this month, and it says the current turmoil in oil markets will be reflected in ticket prices. Thus, there’s no need for a separate fuel charge. Hong Kong Airlines increased fuel surcharges, starting March 12, on a range of routes, including a 35% increase, or HK$100 ($12.80), to the Maldives, Nepal and Bangladesh.

The levy on long-haul destinations including Australia and North America will rise HK$150 to HK$739. JAL, which already applies a fuel surcharge on international routes, said it has no plans to bring forward changes to levies before April 1. The Norwegian budget airline said higher oil prices likely will be reflected in fares or as a specific surcharge.

Australia’s largest carrier is raising fares on international routes by around 5% on average. Jet fuel prices have risen by as much as 150% in the past two weeks, which is driving up costs across the business, Qantas said. Flights on European routes, including Perth-London, Perth-Paris, and services via Singapore, are more than 90% full this month, up from a typical load factor of 75% at this time of year.

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