"Jet fuel tends to be an airline's biggest expense. An analysis by the International Air Transport Association showed that, for the week ending March 27, the weekly average price of jet fuel has skyrocketed 116.8 per cent compared to the previous year's average."
"Air Canada told CBC News that any impact on the price of fuel directly affects the price of all flight routes, but a spokesperson declined to comment on specifics."
"Air Canada Vacations has added a $50-per-passenger fuel surcharge to all of its warm-weather destinations, effective on all new bookings as of April 6."
"WestJet said that its fares are adjusted accordingly when fuel prices change, reflecting the ongoing volatility in fuel costs."
Crude oil prices have risen above $100, impacting consumer-facing businesses like airlines, shipping couriers, and rideshare companies. To manage rising fuel costs, many of these businesses are adding temporary fuel surcharges. Airlines, in particular, are significantly affected, with jet fuel being their largest expense. The International Air Transport Association reported a 116.8% increase in jet fuel prices compared to the previous year. Companies like Air Canada and WestJet have implemented surcharges on tickets to reflect these increased costs.
Read at www.cbc.ca
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