Unrest in MENA may raise IAG fares

26 Feb 2011

(MENAFN) International Airlines Group (IAG) executive, Willie Walsh, stated that the company might increase fares once again due to the increase in fuel prices caused by the political unrest in the MENA region, reported Reuters.

The carrier, a merger of British Airways and Iberia BA, said that it had already raised fares in January as jet fuel prices went up. Walsh said that the company would modify the fuel surcharge again if it finds that necessary.

IAG, which started operations on January and is hedged for 53 percent of its fuel requirements in 2011, said its proforma fuel costs rose 5.2 percent or 49 million euros in the final quarter of 2010.

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