Flight Ticket Price May Hike: There is a fierce war going on between Iran and Israel and this is a worrying thing for the entire world including West Asia. Even though the war is going on in the Gulf, the whole world has to bear its far-reaching consequences. Due to the war, crude oil prices are continuously increasing and this is a direct indication of rising inflation. If the war situation continues like this, domestic reserves will run out in the coming days and oil prices will rise further. A rise in crude oil prices may also increase the cost of air travel. A rise in global oil prices may increase the cost of aircraft turbine fuel (ATF), one of the biggest costs for airlines. This can directly affect the prices of air tickets.
If crude oil prices (Flight Ticket Price May Hike) continue to rise, Indian airlines are likely to pass on some of the cost burden to passengers. Which can lead to an increase in both international and domestic fares. According to a Bussiness report, Govind Gaur, CEO of travel platform WonderOne, said, “If the situation continues and fuel prices continue to rise, domestic airfares may go up by around 10-15 percent. Due to airport closures and flight cancellations, international routes are currently witnessing a huge fare hike. While traveling domestically, flight ticket prices are likely to increase, especially on high-demand routes like Delhi-Mumbai, Bengaluru-Delhi and Mumbai-Hyderabad. May Hike
On February 28, America and Israel attacked Iran. Benchmark Brent crude prices have risen from about $72.48 a barrel to nearly $80 a barrel since that day. Aviation Cargo Chairperson of Federation of Aviation Industry of India Dr. Vandana Singh said that ATF accounts for roughly 30-40 per cent of the operational costs of airlines and can cover up to 45 per cent of air fares. Therefore, rising crude oil prices add to the difficulties of airlines. In that case, the impact of this fuel increase is likely to fall on the air passengers.
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