South Korean airlines will lower their fuel surcharges on international routes in March to reflect lower jet fuel prices, industry sources said Monday.
The surcharges for one-way tickets on long-haul international routes will drop by two notches to 19,200 won next month from 49,200 won in February, according to the sources.
If the average jet fuel price on the Singapore spot market rises over $1.50 per gallon, South Korean airlines are allowed to impose fuel surcharges starting one month later.
Jet fuel prices averaged US$1.62 per gallon on the Singapore exchange between Jan. 16 and Feb. 15, down from $1.89 a gallon a month earlier, the sources said.
If jet fuel prices drop below the threshold, no surcharge is collected. There are 10 levels of surcharges, depending on the length of a route. (Yonhap)