Qantas said today it would raise its fuel surcharge on international flights for the first time in three years as it tries to compensate for the impact of rising oil prices. The Australian flag carrier said it would raise the charge on a one-way flight to Europe by between A$20 ($20) and A$50 from February 19th, adding that it could not rule out further increases.
The move comes as crude prices continue to rise thanks to improving confidence in the global economy and violence in Egypt, with the airline predicting the cost of the black gold will advance further this year.
Qantas said the price of jet fuel had risen from $88 a barrel in September to $117 now.
Qantas said it would not increase the surcharge on its low-cost carrier Jetstar but will adjust fares and hike baggage charges. Qantas shares rose 2.48% following news of the increase.