Fuel costs drive airfare price hikes, with no end in sight

Jet-setting Australians should be prepared to fork over more cash for their flights as airfares continue to rise. Photo: TND

The heads of major Australian airlines Qantas and Virgin have admitted they will be hiking airfares to offset higher fuel costs.

Qantas CEO Alan Joyce told 2GB last week that while the airline’s business is “booming”, high fuel prices will next year cost Qantas an extra $1.8 billion more than the pre-pandemic bill – and fares will be priced accordingly.