SIA ups fuel surcharge

SIA ups fuel surcharge

SINGAPORE: Singapore Airlines (SIA) said on Thursday it would raise fuel surcharges from July 20 as oil prices rocketed to new historic peaks, effectively increasing ticket prices.

SIA said the fuel surcharge will be raised to US$12 from $10 per sector for flights between Singapore and the cities of Bandar Seri Begawan, Bangkok, Denpasar, Hanoi, Ho Chi Minh City, Jakarta, Kuala Lumpur, Manila, Penang and Surabaya -- all in Southeast Asia.

The surcharge will jump to $45 from $30 per sector on all other flights, it said in a statement.

"The change will give partial relief to higher operating costs arising from persistently high jet fuel prices which is around $70 per barrel as compared to $48 a barrel a year ago.

"Singapore Airlines will continue to monitor the price of jet fuel and regularly review the level of surcharge."

Fuel costs accounted for over a quarter of SIA's expenditure for the financial year ending March, up from about 20 percent the previous year. -- AFP