AirAsia X Fares Rise as Much as 40% Due to Iran War, CEO Says

Malaysian low-cost carrier AirAsia X Bhd. has hiked airfares by as much as 40% and raised fuel surcharges by a fifth after jet fuel costs more than doubled in the wake of the Iran war.

Average jet fuel costs have soared to about $200 per barrel from around $90 previously, Group Chief Executive Officer Bo Lingam said in a media briefing on Monday, describing it as the airline’s most critical challenge.