Aviation output falls in S. Korea at sharpest pace in 52 months in April

Seoul, June 1 (IANS) South Korea’s aviation sector output fell at the sharpest pace in 52 months in April, mainly due to a spike in fuel surcharges stemming from the prolonged Middle East conflict, government data showed on Monday.

The production index for the aviation sector stood at 468.5 in April, down 13.5 percent from a month earlier, according to data released by the Ministry of Data and Statistics.

It marked the largest on-month decline since December 2021, when the index dropped 14.2 percent, reports Yonhap news agency.

Passenger transport output in the aviation sector also declined 14 percent in April from a month earlier, marking the steepest on-month decline since December 2021.

The statistics agency attributed the sharp fall in aviation output to reduced airline passenger demand caused by higher fuel surcharges.

Korean Air, the country’s largest full-service carrier, raised international one-way fuel surcharges for April to between 42,000 won (US$27.86) and 303,000 won, up from a range of 13,500 won to 99,000 won in March.

The Mean of Platts Singapore (MOPS), a benchmark for refined petroleum products in the Asia-Pacific region, averaged $214.71 per barrel between March 16 and April 15, placing fuel surcharges for the month in the highest Level 33 bracket.

Amid rising fuel costs and falling passenger demand, local low-cost carriers have reduced round-trip services and introduced unpaid leave and other emergency measures.

Jeju Air Co., South Korea’s largest budget airline, has cut nearly 200 round-trip international flights, equivalent to 4 percent of its total operations, on routes from Incheon, west of Seoul, to Bangkok, Singapore, and the Vietnamese cities of Da Nang and Phu Quoc during May and June. Since late April, it has also suspended its Vientiane route for two months, said the report.

—IANS

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