British Airways announced that it would raise its fuel surcharge on longhaul flights as the high price of oil further squeezes European consumers struggling with rising inflation and wage freezes. BA, which formed the International Airlines Group (IAG) when it merged with Spain's Iberia last year, said it would add 10 pounds ($16.12) to the cost of an economy flight and 20 pounds to a premium ticket.
"As customers will know from the price at the petrol pumps, the cost of fuel has continued to rise significantly over the past three months," said BA's Chief Financial Officer Nick Swift in a statement on Tuesday. "We are very aware of the wider economic pressures on our customers at the moment and we will bear the vast majority of the recent fuel price rise ourselves to keep this increase in surcharge to a minimum." Oil prices have risen to fresh highs recently, with Brent crude topping $122 a barrel on Tuesday on political unrest in Libya and other exporting Middle East countries.
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