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SEOUL, — Korean Air Lines Co., South Korea‘s biggest carrier, said Tuesday it plans to increase ticket prices for flights to the United States and Europe by as much as 10 percent, South Korea’s Yonhap news agency said in its report. Korean Air has submitted the plan to the Ministry of Land, Transport and Maritime Affairs, which oversees the airline industry, to hike the airfares, a company official said.
"Airfares for international flights have been frozen since December 2006," said the Korean Air official. The official said Korean Air has to increase the ticket prices because it cannot apply a fuel surcharge on flights as fuel prices have declined. It wasn’t immediately known when Korean Air would hike the airfares. Until the final quarter of 2008, Korean Air reported a fifth consecutive quarterly loss as the global economic.
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