Phaedrus
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Swiss International Air Lines to Raise Ticket Prices Due to High Cost of Oil, Fuel BASEL, Switzerland (AP) -- Swiss International Air Lines announced Thursday it was raising ticket prices, citing the high cost of crude oil and jet fuel.The carrier, known as Swiss, said it would lift its surcharge on long-haul flights from 30 Swiss francs to 48 Swiss francs (US$25 to US$40; euro19 to euro31). The extra charge on European flights will rise from 15 francs to 18 francs (US$13 to US$15; euro10 to euro12), it said.
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The new surcharges, the latest in a string of hikes in response to high oil prices, will be levied on all tickets booked or issued from April 1, said Swiss. They will apply only to one-way travel.
Earlier this week, British Airways PLC said it was increasing its fuel surcharge, following a similar move by Virgin Atlantic.
British Airways is boosting the fuel charge on long-haul one-way tickets by 6 pounds (US$11, euro8) to 16 pounds (US$30, euro23) a flight. The price on short-haul tickets will increase by 4 pounds (US$7.50, euro5.60) to 6 pounds (US$11, euro8). Virgin Atlantic also raised its fuel surcharge on long-haul flights to 16 pounds (US$30, euro23) from 10 pounds.
Oil prices are roughly 45 percent more expensive than a year ago, underpinned by a weak dollar and rising global demand at a time when there is very little excess supply available.
Besides high fuel costs, Swiss has blamed its money woes on global economic instability, the SARS crisis in Asia, the Iraq war, high oil prices and competition from low-cost carriers in Europe.
The government -- the airline's main shareholder -- and Swiss business invested more than 4 billion francs (US$3.4 billion; euro2.6 billion). Swiss has racked up aggregate losses of 2 billion francs (US$1.7 billion; euro1.3 billion).
Earlier this week, Swiss' shareholders approved the carrier's takeover by German carrier Lufthansa.
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The new surcharges, the latest in a string of hikes in response to high oil prices, will be levied on all tickets booked or issued from April 1, said Swiss. They will apply only to one-way travel.
Earlier this week, British Airways PLC said it was increasing its fuel surcharge, following a similar move by Virgin Atlantic.
British Airways is boosting the fuel charge on long-haul one-way tickets by 6 pounds (US$11, euro8) to 16 pounds (US$30, euro23) a flight. The price on short-haul tickets will increase by 4 pounds (US$7.50, euro5.60) to 6 pounds (US$11, euro8). Virgin Atlantic also raised its fuel surcharge on long-haul flights to 16 pounds (US$30, euro23) from 10 pounds.
Oil prices are roughly 45 percent more expensive than a year ago, underpinned by a weak dollar and rising global demand at a time when there is very little excess supply available.
Besides high fuel costs, Swiss has blamed its money woes on global economic instability, the SARS crisis in Asia, the Iraq war, high oil prices and competition from low-cost carriers in Europe.
The government -- the airline's main shareholder -- and Swiss business invested more than 4 billion francs (US$3.4 billion; euro2.6 billion). Swiss has racked up aggregate losses of 2 billion francs (US$1.7 billion; euro1.3 billion).
Earlier this week, Swiss' shareholders approved the carrier's takeover by German carrier Lufthansa.
