Emirates Airline hikes fare as oil prices are rising

Emirates airline, the region’s largest carrier, has hiked fares across all sectors as it is unable to absorb soaring fuel prices, the company said in a statement to Emirates 24|7.

“Like every commercially-oriented business, Emirates regularly reviews its fares to reflect market dynamics including demand and rising fuel prices,” an Emirates spokesperson said in the statement.

“We have an active fuel risk management programme but with such market volatility it is impossible to fully absorb the impact of soaring oil prices,” the statement added.

Global oil prices are up almost 50 per cent in a year, with a barrel of Brent crude up from $76/b on March 1, 2010, to today’s early morning trade at $112.35/b.