Climbing Up

August 16 (LBO) – SriLankan Airlines said Wednesday that it would raise fares by end August for the third time this year, to cope with soaring fuel prices, even as it trims costs onboard its aircraft. Fuel prices are on an upward trend and we will have to pass it on, there is no other option at the moment,” Vipula Gunatilleka, Chief Financial Officer of SriLankan Airlines told LBO in an interview on Wednesday.

A fuel surcharge of possibly ten dollars on short haul flights and 20 dollars on long haul flights for a one way ticket, is on the cards for end August, Gunatilleka said.

The surcharge is the third this year, to battle soaring jet fuel costs, with the airline already over budget on its fuel bill this year.

The increases with August’s surcharge could add up to 80 dollars of the cost of a long haul one way ticket, and 50 dollars for a shorter run.

SriLankan is already nine million dollars over budget in terms of its fuel bill for the first four months of this financial year and prices are on the upward trend,” Gunatilleka said.

Jet fuel prices hit 2.10 dollars a gallon in June but are on course to reach about 2.20 dollars a gallon, well over the forecasted 1.7