Air India to hike fuel surcharges amid conflict
New Delhi, March 11 -- The Air India group on Tuesday announced a phased increase in fuel surcharges across its domestic and international network, citing a sharp rise in jet fuel prices driven by the conflict in West Asia.
Aviation turbine fuel (ATF), which accounts for nearly 40% of an airline's operating costs, "has seen significant price escalation due to supply interruptions" since early March, the group said in a statement.
Globally, jet fuel prices have roughly doubled since the conflict began, surging from around $85-90 a barrel to between $150 and $200. Airlines in other regions have moved to pass on the cost too. Australia's Qantas, Scandinavia's SAS and Air New Zealand announced fare hikes or temporary surcharges, while Hong Kong...
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