Scoot to adjust air fares

Scoot to adjust air fares

Scoot today announced plans to adjust its fares network-wide in response to rising jet fuel price, which has surged almost 40% year on year and now stands at close to US$90 per barrel on average.

Generally, Scoot’s fares will increase by between S$5 and S$30 per sector, depending on flight duration. Across the network, fares will increase by about 5% on average. The fare increase will take place from 1 September 2018.

With fuel comprising on average 32% of Scoot’s total operating costs, the rise in jet fuel prices have pushed up Scoot’s fuel expenditure by 31% year on year.

Back in March 2016, Scoot had removed fuel surcharges from its fare structure as fuel prices sank to six-year lows.

Besides increasing fares, Scoot is also looking at containing its costs. Some initiatives being considered include exploring ways to reduce fuel burn, review of suppliers’ contracts and measures to improve productivity and keep manpower resources lean, among others.

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Juergen Thomas Steinmetz has continuously worked in the travel and tourism industry since he was a teenager in Germany (1979), beginning as a travel agent up through today as a publisher of eTurboNews (eTN), one of the world’s most influential and most-read travel and tourism publications. He is also Chairman of ICTP. His experiences include working and collaborating with various national tourism offices and non-governmental organizations, as well as private and non-profit organizations, and in planning, implementing, and quality control of a range of travel and tourism-related activities and programs, including tourism policies and legislation. His major strengths include a vast knowledge of travel and tourism from the point of view of a successful private enterprise owner, superb networking skills, strong leadership, excellent communication skills, strong team player, attention to detail, dutiful respect for compliance in all regulated environments, and advisory skills in both political and non-political arenas with respect to tourism programs, policies, and legislation. He has a thorough knowledge of current industry practices and trends and is a computer and Internet junkie.

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