Amid lingering low oil prices, local airlines are waiving fuel surcharges for international passengers for the eighth consecutive month through next month.
Korean Air and Asiana Airlines, South Korea's two leading carriers, said Wednesday that they will not tack on any fuel surcharge onto international tickets issued in April.
It extends the surcharge-free period to eight months, marking a record high. The fuel surcharge continued a zero rally for six months in 2009.
Korean Air and Asiana Airlines calculate a fuel surcharge for their long-haul services based on the previous one-month average price of Singapore jet fuel JET-SIN, a regional price benchmark.
No fuel surcharge is imposed for an upcoming month when the month-long average price of JET-SIN remains below 150 cents per gallon as of the 15th day in the previous month. The average JET-SIN between February 16th and March 15th was 105-point-46 cents per gallon.
Meanwhile, the fuel surcharge for domestic flight services via local airlines has also extended a zero rally to three months through April.