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Qantas to Increase Fuel Surcharges

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Qantas is again increasing its international fuel surcharges as a response to continuing rises in oil and jet fuel prices. Domestic, Regional and Tasman fares will also increase by 5% and a fuel surcharge will be added to Domestic and Tasman Qantas Frequent Flyer Classic Award redemption seats.

The changes will apply to tickets issued on or after Thursday, 28 April 2011.

"After fuel hedging, fuel surcharges and fare increases, Qantas will still not fully recover these higher fuel costs," said Qantas Chief Executive Officer, Mr Alan Joyce. "The revised fuel surcharges cover less than half of the increase in fuel cost for the Qantas International business for next year. With fuel prices at record highs, even if the fuel price begins to decrease it will be some time before we will be able to decrease the fuel surcharge."

The Qantas Group will spend around $2 billion on fuel in the second half of this financial year, approximately a $300 million increase to the fuel bill when compared to the first half.

Qantas increased domestic airfares and international fuel surcharges in February and March this year in response to rising fuel prices.

A fuel surcharge of $10 for Domestic and $20 for Tasman Classic Award redemptions will also be implemented.

Year to date average prices for both Brent and Singapore Jet Fuel are at their highest since FY08. The price of Singapore Jet Fuel has increased from an average of US$88 a barrel in September 2010, to US$120 a barrel in February, and is more than US$136 per barrel today.

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