Australia's national airline Qantas said yesterday it is considering a fifth hike in its fuel levy to counteract the impact of surging oil prices.
Chief financial officer Peter Gregg said Qantas had already cut 200 senior management positions and was considering lifting the fuel levy in the face of increasing competition.
Crude oil prices surged on Tuesday, pushing towards US$64 a barrel and Gregg said Qantas' fuel bill for this year could be A$1.2 billion (US$92 million) higher than previously.
"While hedging and surcharges will partially offset this, we still face a A$600 million shortfall compared with last year," Gregg said.
Qantas passengers now pay a A$20 fuel surcharge per sector while those with low-cost carriers Jetstar and Virgin Blue pay A$19.
Jetstar, which is a subsidiary of Qantas, said yesterday it was also considering raising the fuel levy.
"I think there are a few things to be considered in that debate ... but no firm decision has been made yet," chief executive Alan Joyce said.
Asia's biggest carrier, Japan Airlines (JAL), said yesterday it will extend a surcharge on international routes through the end of March because of oil costs. JAL introduced the surcharge in February and had raised it last month. The expanded surcharge was set to expire on Sept. 30.
Cathay Pacific yesterday reported a drop in half-year profits as rising jet fuel costs undermined huge gains in turnover and passenger numbers. It warned that fuel costs concerns had dampened expectations for the second half.
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