Seoul: South Korea's low-cost carriers (LCCs) are reducing international flights in response to increasing fuel costs and ongoing tensions in the Middle East.
According to Qatar News Agency, aviation industry sources revealed that several companies plan to suspend 50 flights between April 20 and May 31. This decision is partly due to limited local refueling conditions in Vietnam, which have exacerbated the situation.
The country's three largest LCCs are also contemplating reducing services on certain Southeast Asian routes. Industry watchers suggest that these changes are necessary to manage the financial strain caused by rising fuel prices.
Jet fuel prices in Asia and Oceania saw a 16.6% increase during the week of March 13-20, reaching $204.95 per barrel. This was a significant rise compared to the previous week and considerably higher than the average in the prior month, as reported by the International Air Transport Association (IATA).