Airlines in South Korea reduce their flights as oil prices rise
SEOUL, May 10 (WAM) – Low-cost airlines in South Korea have canceled 900 round-trip flights, instituted unpaid leave and other emergency measures as the ongoing conflict in the Middle East causes fuel prices to rise, aviation officials said today.
The South Korean Yonhap News Agency reported that the reduction in flights came with the rise in aviation fuel prices in the wake of the conflict between the United States and Iran, and according to officials, the number of canceled flights is expected to increase.
More so, given that some airlines have not yet finalized their flight schedules for next June.
Jeju Air, the largest low-cost airline in South Korea, decided to cancel 187 international round-trip flights, which is equivalent to 4% of its total operations, on routes departing from Incheon, west of Seoul, to Bangkok, Singapore, and the Vietnamese cities of Da Nang and Phu Quoc during the months of May and June. Since late April, it has also suspended its route to Vientiane for two months.
Jin Air has canceled 176 return flights to destinations including Guam and Phu Quoc through the end of this month, and additional reductions are expected once the June schedule is finalized.
Among full-service airlines, Asiana Airlines has canceled 27 return flights on six routes, including Phnom Penh and Istanbul, until July following the outbreak of conflict in the Middle East.
Korean Air, South Korea’s largest airline, has not yet adjusted its flight operations, but said it was closely monitoring the situation under the emergency management system.
Jet fuel prices have risen 2.5 times since the outbreak of war, and the average price of jet fuel in Singapore, which is used as a benchmark for fuel surcharges, was US$214.71 per barrel from 16
March to April 15, an increase of 150% from the previous two months.
Budget airlines are particularly vulnerable due to their weaker financial positions compared to major airlines.
-Except-
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related
