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Air New Zealand announces fare increases to offset fuel

11-Mar-2011 8:05 AM

Air New Zealand announced (10-Mar-2011) plans to increase domestic and international airfares to offset the rising cost of jet fuel. Air New Zealand said that over the past month, the price of jet fuel has increased from USD114 to USD130 per barrel, adding almost USD10 million per month to the airline's operating costs. From 18-Mar-2011, domestic airfares will increase by an average of 7%, fares to Australia and the Pacific Islands will increase by an average of 8% and long-haul fares will increase by an average of 7%. The airline's decision follows Qantas' second fuel surcharge increase in Mar-2011. [more]