Topi Manner, the chief executive of Finnair, said he expected ticket prices to rise further in response to airlines facing historically “very high levels” of fuel costs.
To make matters worse, airlines are paying a significant premium for jet fuel, which has risen to $130 per barrel. European carriers have hedged between 60 per cent and 80 per cent of their expected fuel needs for the final quarter of the year, and between 16 and 45 per cent for 2024, according to Barclays estimates.
“Airlines will tell you they will try to pass it through, but like any cost you can only pass it through when you have excess demand,” he said.
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