South Korean airlines lower fuel charges

South Korea’s two flag carriers said they plan to cut fuel surcharges for international flights next month for the second straight month on a continued drop in oil prices. Korean Air, the larger of the two, and Asiana Airlines said they will lower the surcharges by US$1 to $9, depending on the routes.

The cuts, to go into effect from March 1, follows a drop in fuel oil prices.

The price of fuel oil hovered at $1.66 a gallon, down from $1.75 the previous month, on the Singaporean spot market between Jan. 16 and Feb. 15, they said.