"Airfare hikes inevitable" - IATA chief: Rising fuel costs cannot be afforded
Top airline industry officials are warning that passengers will continue to pay more for flights for months as energy costs remain high. The director general of the International Air Transport Association (IATA), Willie Walsh, said higher airfares were now "inevitable" as airlines could not afford to pay for rising fuel costs indefinitely.
“There is no way airlines can continue to afford the additional costs they are facing,” he said. Walsh explained that some airlines are offering temporary discounts to boost demand, “but over time it is inevitable that higher oil prices will be reflected in higher ticket prices.”
The crisis has intensified after problems in transit through the Strait of Hormuz, a hub for global oil and fuel shipments. Europe is heavily dependent on fuel imports from the Middle East, raising fears of possible shortages this summer.
The aviation industry has been hit hard by soaring oil and jet fuel prices. Jet fuel topped $200 a barrel in April before falling to around $150 this month, according to data. The situation has led some airlines to cancel less profitable flights, while global passenger traffic remains well below normal levels.
In this environment, the European Commission intervened last week, clarifying that airlines cannot impose additional fuel surcharges after a ticket has been purchased.
In a directive published on May 8, the Commission stressed that "any retroactive change to the final price of the air ticket is excluded", recalling that EU rules require full transparency in the final cost paid by the passenger.
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