Malaysian airline reduces fares after drop in jet fuel prices
AirAsia X Chief Executive Officer Benyamin Ismail, said the Malaysian budget carrier has reduced fares by 5 percent since 15 June and plans to continue adjusting ticket prices as jet fuel costs decline.
Lingam said the US-Iran memorandum of understanding had brought welcome relief to the aviation sector, with fuel prices falling significantly from the highs reached during the conflict.
"The industry has been really affected by the rise in fuel prices. Hopefully, everything in the Middle East stays as it is today," he told reporters.
Singapore jet fuel was trading at about $112 a barrel on Friday, down from a peak of $242 on 30 March, though still above the pre-conflict level of around $80 a barrel.
