Iranian national airline nearly doubles airfare to cover rising fuel costs

Iranian national airline Homa has increased ticket prices for international flights by 90 percent due to a recent rise in jet fuel prices, ISNA reported.

For instance, Tehran-London-Tehran ticket price rose by 85 percent, increasing up to 17.57 million rials from 9 million rials, and Tehran-Paris-Tehran ticket rose by 70 percent and is sold at 14.19 million rials compared to previous 8.2 million rials.

Last Wednesday, Lufthansa, Qatar Airways, and Emirates have officially announced their new rate on ticket prices.

Earlier this month, Iranian local airlines increased their airfares by up to 70 percent amid Western sanctions on oil and banking system.

Hamid Reza Pahlevani, head of the country's aviation organization, said authorized airlines increased the airfares to compensate for the high price of aircraft fuel by Iran's state-owned fuel company.

The hike is the biggest increase in local airfares since the early 1990s. Iranian airliners in recent years had occasionally raised the fares by lower amounts, such as 20 to 30 percent.

In May, Iran doubled price of fuel for Iranian airlines, which are mostly state-owned.

Since the embargo was imposed in oil and banking system by the European Union in July, the rial has fallen drastically in value against foreign currencies.

Do you have any feedback? Contact our journalist at [email protected]

(c)2012 Trend News Agency (Baku, Azerbaijan). Distributed by MCT Information Services.