ECONOMY

Aegean Air to raise its fuel surcharges

Aegean Airlines, the second-biggest carrier in Greece, will increase ticket surcharges starting April 15 to cover the rising cost of fuel. Passengers on domestic flights will pay an additional 2 euros ($3.14) and international travelers will pay an additional 4 euros, the Athens-based company said yesterday in a statement. This means passengers will pay a total surcharge of 17 euros for domestic flights and 29 euros for international flights, Stavroula Saloutsi, Aegean’s head of public relations, said by phone. Aegean last increased its fuel surcharges in October 2007, Saloutsi said. The rise comes after the price of oil jumped 70 percent compared to the first quarter of 2007, adjusted in euros, the airline said. Fuel accounts for 28 percent of Aegean’s total costs, the airline said in the statement. Aegean shares, which fell as much as 2 percent in early dealing in Athens, pared losses after the announcement, closing down 0.41 percent at 4.88 euros. The new charges don’t apply to some existing special offers, Aegean said. (Bloomberg)