The high prices of kerosene after the double closure of the Strait of Hormuz by Iran and the United States is causing flight cuts and price increases for tickets in many airlines, while others commit to not making changes.
Sources from Binter explained to La Voz that as far as inter-island flights are concerned, “prices are defined by the Public Service Obligations and therefore, any cost increases that may occur, are assumed by the airline and, consequently, are not passed on to passengers”.
They also clarified that, regarding fares on other flights, Binter is not currently applying this increase in costs.
The Canary airline also explained that “quite a few airlines that operate in Spain have hedging contracts that ensure us high percentages of kerosene consumption at a price similar to what existed just before the conflict”.
Thus, “only a residual part (of the fuel) is exposed to extremely high volatility, which helps to mitigate these increases in the short and medium term”.
Regarding the number of scheduled flights, the company clarified that “there is no change or adjustment, we maintain the planned schedule”.
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