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Scoot raises airfares to combat rising fuel costs
Budget carrier Scoot will raise fares across its flight network due to surging oil prices.
Effective from September 1, airfares will rise by an average 5%, pushing up prices by around S$5 to S$30, the airline said.
Scoot said it is still looking to trim costs across the business and will be reviewing supplier contracts, look at ways to reduce fuel burn and cut any unnecessary inefficiency.
It said fuel cost have risen 31% in the past year and make up about a third of operating costs.
Passenger yields fell 1.8% in the second quarter while quarterly profit was S$1 million, down from S$3 million a year ago.
Parent Singapore Airlines said it has no immediate plans to follow and increase base airfares.
Air New Zealand, perhaps the airline most at risk of surging oil prices, imposed fare increases in May.
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