Airfares are seen to remain unchanged in May as the fuel surcharge rate is kept at level 6 for the third straight month.
The Civil Aeronautics Board (CAB) said passenger and cargo fuel surcharge for both domestic and international flights for May 1 to 31 stays at level 6, which has been implemented since March.
Depending on the destination, this means an additional P185 to P665 for domestic flights and P610.37 to P949.51 for international flights.
The fuel surcharge is an optional fee imposed and collected by airlines to recover fuel costs and stem losses caused by an upward spike in fuel prices.
The fuel surcharge is not a part of the basic airfare and may be reduced or removed depending on the price of jet fuel in the market – a prevailing international practice.
The International Air Transport Association said the global average jet fuel price last week fell marginally by 0.3 percent compared to the week before to $111.01 per barrel as of April 12.
Air passenger traffic volume surged by 55 percent to 50.2 million in the full year of 2023, from 32.3 million passengers recorded in the previous year, driven by the significant recovery of domestic travel, according to CAB’s latest data.
Airlines are expected to continue to offer competitive ticket prices to sustain their growth despite higher fuel prices.
