In seat sales we trust.
According to a financial software, date and media company Bloomberg, “airlines in the Philippines are under pressure to raise ticket prices to offset rising fuel costs and the peso’s plunge to an almost 12-year low, risking lower demand from travelers also hurt by the currency’s decline.”
Owner of the Philippines’ largest airline budget carrier Lance Gokongwei has already spoken that they ‘will have to adjust prices accordingly‘. He is also the president of Cebu Air Inc.
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On the other hand, Philippine Airlines was reported to ‘consume about 11 million barrels a year’, a boo-boo resulted from the $13 increase of jet fuel prices from January to April, according to the airline’s president, Jaime Bautista.
The Philippines is not alone as it has also been reported that Singapore jet fuel hiked to $92.73 a barrel, “the highest in more than three years”, according to the Bloomberg Fair Value. In relation to this, the Philippine peso dropped to 52.705 per dollar, which is its lowest since July 2006.
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Better to plan trips ahead and purchase those prices ASAP to score the best possible deals!
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