Greek carrier Aegean Airlines said on Friday it will raise ticket surcharges by up to three euros for domestic and international flights, due to the increasing cost of jet fuel.
The carrier, which competes with state-owned Olympic Airlines flying domestic and international routes, reported a loss of EUR4.4 million euros (USD$6.91 million) in the first quarter citing a 57 percent jump in energy costs.
"Taking into consideration the continuing rise of oil prices... Aegean is forced to increase the surcharge on its ticket prices," the company said in a statement.
Aegean, which continued to expand its business in the first quarter "amid challenging conditions" created by the rise of oil prices, said that prices of fuels in dollars have risen 110 percent compared with the same period last year.
"Fuel costs account for 35 percent of total company costs, despite the ongoing investment in new A320/321 Airbus planes, which reduce fuel consumption," the company said.
The airline has been renewing its fleet, wanting to add more destinations, and has taken delivery of four new A320 aircraft. Traffic rose 10 percent to 1.1 million passengers in the first quarter.
Crude oil futures dropped below USD$145 a barrel on Friday, but remained within sight of record highs reached in the previous session. The price neared USD$146 this week, due to escalation in tensions between Iran and Israel.
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