S. Korea's top two airlines to slash fuel surcharges

By Nam Kwang-sik
SEOUL, Dec. 1 (Yonhap) -- South Korea's top two carriers said Monday that they
will sharply lower fuel surcharges for international routes next month to reflect
a tumble in jet fuel prices.

Korean Air Lines Co., the larger of the two, and Asiana Airlines Inc. said they
will slash their fuel surcharges for one-way long-haul flights to the United
States and Europe to US$41 from $140.
The two carriers sharply increased fuel surcharges to $221 in September from $104
in January, after the South Korean government expanded the seven-phase surcharge
system to a 33-phase one to allow airlines to cope with spiraling oil prices.
Recent falling jet fuel prices prompted the carriers to cut fuel surcharges to
$140 in November.
The Korean airlines are able to adjust surcharges for international routes
bimonthly in tandem with the average price of fuel oil in the previous month,
under the fuel surcharge system set by the government.
The price of jet fuel fell to $1.66 a gallon on Nov. 27 from an average $2.14 a
gallon in October on the Singaporean spot market, Asiana Airlines said.
ksnam@yna.co.kr
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