SEOUL, May 18 (Yonhap) -- South Korean airlines will not apply fuel surcharges on international routes in May to reflect falling oil prices, industry sources said Monday.
The surcharge for one-way tickets on international routes will come to zero the following month, unchanged from May. The zero rate will remain in place in June for the third straight month.
If the average jet fuel price on the Singapore spot market rises over US$1.50 per gallon, South Korean airlines are allowed to impose fuel surcharges starting one month later.
If jet fuel prices drop below the threshold, no surcharge is collected. There are 10 levels of surcharges, depending on the length of the route.
Jet fuel prices averaged 48.71 cents per gallon on the Singapore exchange between April 16 and Friday.
Local airlines have suspended most of their flights on long-haul routes due to a tumble in travel demand amid the coronavirus outbreak.
Air carriers will also apply no fuel surcharges on domestic routes in June for the second straight month due to declining oil prices.