THE airline companies who offer flights to the Spain and the Balearic Islands could soon by increasing their air fares in line with the ever-increasing petrol prices, which peaked at a new record high yesterday. Airfare prices could be raised in time for the Autumn-Winter season, which is due to start at the end of September and the beginning of September. This is also a time when airlines change their timetables. However, the airlines have commented that these increases could happen sooner if petrol prices do not lower themselves to 60 dollars per barrel of crude oil. The normal procedure is for airlines to adjust prices when the new winter timetables are due out.
With regards to Iberia, Air Europa and Spanair, they have all announced that for the moment no airfare decisions have been made, but they did note that “we can not reject an increase in airfare prices if petrol prices keep on rising. The three companies have ruled out airfare increases for the next few weeks, although they are all keeping an eye on the daily cost of petrol to check that the fuel prices are in line with financial results. The financial results of these companies have been low in the first part of this year and this is down to the increase in petrol prices, which has practically doubled their operating costs since the start of the year. British Airways has stated that for the moment they are not thinking about raising the price of airline tickets.
This company did in fact increase airfares back on 24 June for European trips, to cover the increasing petrol costs.
The low-cost airlines have announced that they have no intention in increasing their prices. “Spanish consumers can rest assured because we are not going to apply any increase to ticket prices because of the increase in the petrol prices”, said Alfons Claver, the Sales Director of Ryanair in Spain. “This petrol price bubble, which is making someone super rich, soon has to pop”, added Alvaro Middelman, Director General of Air Berlin in Spain and Portugal.

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