High airfares may become new norm as jet fuel costs soar, says Asia-Pacific airline industry chief

High airfares may become new norm as jet fuel costs soar, says Asia-Pacific airline industry chief ↗

High airfares could become the new norm as airlines deal with soaring jet fuel prices and rising operating costs. The Association of Asia Pacific Airlines' chief says carriers are trying to contain ticket prices while protecting their finances. The industry faces a different cost environment from a year ago when jet fuel was about $80 a barrel, compared with around $180 now. Fuel accounts for a third of airline operating costs, making further price increases a threat to financial performance.