Korean Air and Asiana lift November fuel surcharges four levels as jet fuel rises 9.7%
Korean Air and Asiana will apply level 27 fuel surcharges in November, four tiers above October, after average Singapore jet fuel rose 9.7%. Year-end travellers pay the difference, and the carriers' risk is whether bookings hold at the higher price.
The Investor · Invest desk
Bar chart of Korean Air's new one-way fuel surcharges: 408,100 won to New York, Dallas, Toronto and other U.S. cities; 370,100 won to Paris, Rome and other European routes; 76,000 won to Narita, Osaka, Taipei and similar routes; 55,600 won to Shenyang, Fukuoka and other short-haul routes.
Korean Air's new one-way fuel surcharge, by route group In won one way
| Item | Value | Claim |
|---|---|---|
| U.S. cities and Toronto | 408,100 won one way | 5 |
| Paris, Rome and other Europe | 370,100 won one way | 6 |
| Narita, Osaka, Taipei, others | 76,000 won one way | 7 |
| Shenyang, Fukuoka, others | 55,600 won one way | 8 |
What happened
- Korean Air's one-way surcharge on long-haul routes to New York, Dallas, Boston, Chicago, Atlanta, Washington and Toronto rises 45,500 won, or 12.5%, to 408,100 won, koreajoongangdaily.com reported.
- Asiana's one-way surcharges will run from 62,400 won on the shortest Northeast Asian routes to 351,100 won on European and U.S. routes, Seoul Economic Daily reported.
- The surcharge level was 33 in May, 14 in August, 21 in September and 23 in October, according to koreajoongangdaily.com.
- The November surcharges were set from jet fuel prices averaged over Sept. 16 to Oct. 15, Seoul Economic Daily reported.
Why it matters
- What it costs cost Year-end travellers carry the increase: a Korean Air round trip to the U.S. East Coast now includes 816,200 won in surcharge alone, 91,000 won more than in October.
- What it limits constraint The surcharge passes on only part of the oil cost, so the remainder sits in airline margins.
- Who's exposed exposure A third straight rise lands just before the year-end peak, and Seoul Economic Daily says the airlines are watching for signs that demand could weaken.
Next story · Invest · yesterday
Korean Air's net income rose 838 billion won in a quarter when operating profit rose about 45 billionConfirmed4 publishers
Fuel rose 9.7% and the surcharges rose faster. Singapore jet fuel went from $158.57 a barrel to $173.89 [4], a gain of $15.32 [16], while the four Korean Air route groups that koreajoongangdaily.com itemises rose between 12.5% and 15.5% [5][6][7][8]. Seoul Economic Daily puts Korean Air's increase at up to 13% and Asiana's at up to 17% [20]. The 13% ceiling sits below two of the four route figures in the other report, 14.9% on Paris and Rome and 15.5% on Tokyo and Beijing [6][7], so the two accounts of Korean Air do not reconcile.
The cause is also told two ways. Seoul Economic Daily ties the move to renewed U.S.-Iran clashes in the Strait of Hormuz [3]; koreajoongangdaily.com says the prolonged war in the Middle East is pushing up jet fuel [12]. The 9.7% is an average over a month-long assessment window [11], so neither account isolates what the clashes added. A ticket sold in late November carries a price fixed from that window [10], whatever jet fuel does after it.
The scale moves in both directions. Level 33 in May fell to 14 in August, 19 levels in three months [14][17]. The climb since is 13 levels [18], and November's 27 is still six below May's peak [19].
We think the pass-through holds through the year-end peak, with three ways it could go otherwise. Fuel could keep climbing, and 27 becomes a step toward May's 33. It could fall back, and the December level would drop as it did over the summer. Or fuel could hold while demand softens, and the carriers would have to choose between keeping the surcharge and discounting base fares to fill seats.
The third path is where margin pressure would show. The airlines are passing the cost on, or rather part of it [15], and the reports do not include margin figures, so the margin effect here is inference. We would be wrong if year-end bookings soften while the level stays at 27 or higher.
What to watch
- The December surcharge level: any level above 27 would extend the run of rises to four months.
- Singapore jet fuel against the $173.89 a barrel average that set November's level.
- Whether Korean Air or Asiana report weaker year-end bookings at the higher surcharge.
Information, not investment advice. This story is general information about companies and markets, drawn from cited reporting. It is not a recommendation to buy, sell or hold any security; check the cited sources before acting.
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- [1]
Korean Air and Asiana Airlines said on the 16th that they will apply November international fuel surcharges at level 27, four tiers above this month's level 23.
- [2]
The average price of Singapore jet fuel during the Sept. 16 to Oct. 15 assessment period was 414.03 cents per gallon ($173.89 per barrel), up 9.7% from the 377.54 cents used to set this month's rates.
- [3]
The increase follows a spike in global oil prices after renewed clashes between the United States and Iran in the Strait of Hormuz.
- [4]
The Mean of Platts Singapore (MOPS) jet fuel price averaged $173.89 a barrel from Sept. 16 to Thursday, up 9.7 percent from $158.57 in the previous period.
- [5]
On long-haul routes from Incheon to New York, Dallas, Boston, Chicago, Atlanta, Washington and Toronto, Korean Air's one-way surcharge will rise by 45,500 won, or 12.5 percent, from 362,600 won to 408,100 won, adding 91,000 won to a round trip.
- [6]
Korean Air surcharges on European routes such as Incheon to Paris and Rome will climb by 48,100 won, or 14.9 percent, from 322,000 won to 370,100 won one way.
- [7]
Korean Air routes including Incheon to Narita, Osaka, Nagoya, Sapporo, Okinawa, Taipei, Shanghai Pudong and Beijing, and Gimpo to Haneda, will carry a one-way surcharge of 76,000 won, up 10,200 won, or 15.5 percent.
- [8]
On Korean Air short-haul routes such as Incheon to Shenyang, Qingdao, Dalian, Yanji and Fukuoka, the one-way surcharge will rise by 6,600 won, or 13.5 percent, from 49,000 won to 55,600 won.
- [9]
Korean Air's round-trip surcharge alone on U.S. East Coast routes comes to 816,200 won, up 91,000 won from this month.
- [10]
International tickets issued next month will carry level 27 fuel surcharges, four levels higher than the level 23 applied this month.
- [11]
The assessment period used to set November surcharges ran from Sept. 16 to Oct. 15.
- [12]
Fuel surcharges on international flights from Korea will rise for a third straight month in November as the prolonged war in the Middle East pushes up jet fuel prices.
- [13]
Asiana Airlines will charge between 62,400 won on the shortest Northeast Asian routes and 351,100 won on European and U.S. East and West Coast routes on a one-way basis; on long-haul routes the round-trip surcharge alone exceeds 700,000 won.
- [14]
International fuel surcharges reached the highest level of 33 in May before falling to level 14 in August, then rose to level 21 in September, level 23 in October and level 27 in November.
- [15]
Airlines use fuel surcharges to pass on part of the cost of rising oil prices to passengers through ticket prices.
- [16]
The benchmark jet fuel price rose $15.32 a barrel, from $158.57 to $173.89.
- [17]
The surcharge level fell 19 levels between May (33) and August (14).
- [18]
The surcharge level has risen 13 levels since August (14) to November (27).
- [19]
November's level 27 is six levels below May's peak of 33.
- [20]
Surcharges will rise by as much as 13% at Korean Air and 17% at Asiana Airlines.
- [21]
With surcharges rising for a third straight month ahead of the year-end peak travel season, the cost of buying a ticket is mounting, and airlines are closely watching for signs that travel demand could weaken.
Sources
2 independent publishers whose own reporting we read for this story.
- en.sedaily.comFuel Surcharges Jump for Third Straight Month as Oil Rebounds
1 article · October 16, 2026
- koreajoongangdaily.comInternational flight fuel fees rise again in November
1 article · October 15, 2026
Topics and entities
Topics
- Airline Fuel Surcharges
- Jet fuel prices
Entities
- Korean Air
- Mean of Platts Singapore
- Asiana Airlines