Overview
- South Korea’s flag carrier has shifted to emergency management in April after leadership warned that sustained high oil prices could derail annual targets.
- For April ticketing, Korean Air lifted one‑way fuel surcharges to 42,000–303,000 won, with long‑haul U.S. routes at the top end, and Asiana and Jeju Air also posted steep increases.
- Industry officials say May surcharges could reach the highest level under Korea’s 33‑tier formula, which would push fees on some U.S. routes toward about 500,000 won one way.
- Airlines are cutting flying to stem losses, with Jin Air and Air Premia canceling dozens of flights in April and May and Jeju Air planning 110 cuts across three Southeast Asia routes in May and June.
- Seoul is reviewing support as refiners tap strategic stockpile swaps, including a 2 million‑barrel release via the Korea National Oil Corporation, to bolster near‑term aviation fuel supply.