Yahoo Finance Why Qantas and Jetstar flight prices are going up today
Qantas flight prices will jump 3.5 per cent, while Jetstar flights will increase 3 per cent.
Aussie travellers will be hit with a price hike today, as rising fuel prices force Qantas and Jetstar to increase the cost of flights.
Qantas flights will increase by 3.5 per cent on average, while budget airline Jetstar will hike prices by 3 per cent on average.
The actual increases will vary depending on the route and cabin in question.
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Qantas said factors such as the conflict in the Middle East and a weak Aussie dollar were behind the move.
“As flagged last month, sustained increases in fuel prices are placing upward pressure on fares,” Qantas said in a statement.
“The Qantas Group has absorbed recent fuel cost increases but, given current tensions in the Middle East and broader economic factors including a weaker Australian dollar, the price of fuel is expected to remain elevated for some time.”
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Qantas said the increase would recoup “some of this higher cost” but the airline would continue to absorb the remainder.
The airline said the average cost of fares would still be lower than the highs seen in late 2022.
The price hike will apply to flights booked from October 27 onwards.
Qantas rakes in $2.47 billion
Qantas made a staggering $2.47 billion profit before tax in the last financial year, with $1.74 billion in profit after tax.
It comes as the ACCC launches legal action against Qantas for allegedly selling tickets for more than 8,000 flights it had already cancelled.
The consumer watchdog claims the Aussie airline engaged in “false, misleading or deceptive conduct”.
Qantas has also been hit with a class action by Echo Law on behalf of thousands of customers whose flights were cancelled during the COVID-19 pandemic.
Echo Law claims customers were entitled to full cash refunds but instead most were issued travel credits or vouchers, which were subject to significant restrictions.
- With NCA Newswire
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