Uzbekistan Airways Seeks to Limit Ticket Price Increases
Uzbekistan Airways plans to limit increases in ticket prices despite an expected rise in fuel costs, a company representative told Kursiv Uzbekistan.
The airline purchases aviation fuel on the domestic market and has not experienced supply disruptions so far. However, it does not rule out possible fare adjustments in the future, noting that fuel price trends remain difficult to predict.
Fuel prices on the rise
According to the International Air Transport Association, the global average price of jet fuel stood at $209 per barrel as of April 3, amid tensions in the Middle East. For comparison, the price was $157 on March 6.
In Europe and the CIS, the average fuel price reached $216 per barrel on the same date, IATA data shows.
Pressure on airlines
As noted by Travel and Tour World, aviation fuel remains the largest cost component for airlines. A sharp rise in prices is forcing carriers to cut flights on certain routes to conserve fuel and reduce spending.
Despite a reported ceasefire between Iran and the United States and the reopening of the Strait of Hormuz, oil prices are expected to continue rising in the coming months.
«We are maintaining a risk premium in oil prices throughout the forecast period, as uncertainty over potential supply disruptions is likely to keep prices above pre-conflict levels,» the U.S. Energy Information Administration said in a statement.
