Key insights
- Korean Air is significantly increasing fuel surcharges in May due to rising oil prices stemming from geopolitical tensions in the Middle East. This will impact ticket prices, especially on long-haul routes to the US. While directly impacting Korean Air, it signals broader inflationary pressures within the airline industry, potentially affecting US airlines and consumer travel costs.
Korean Air’s fuel surcharge is set to rise again in May, marking about a sevenfold increase from its value before the war in Iran began at the end of February, shocking the global energy market. In May, the fuel surcharge for short haul, one-way flights on Korean Air from Seoul’s Incheon International Airport to destinations such as Dalian, China, and Fukuoka, Japan, will cost about 75,000 won ($50.85) – up from 10,500 won ($7.12), according to a notice from the airline. The fuel surcharge for the airline’s longest routes – from Incheon to major US cities including New York, Dallas and Atlanta – will cost about 564,000 won ($382.40), a significant hike from 76,500 won ($51.87) in February. A one-way economy ticket from Incheon to New York in May costs about 1,650,900 won ($1,119.32), according to Korean Air’s website. Korean Air is one of Asia’s biggest airlines, carrying more than 16.5 million passengers in 2025. Airlines have been hiking fuel surcharges, cutting flights and raising baggage fees to offset the high cost of oil due to the effective closure of the Strait of Hormuz, a crucial shipping route, during the war with Iran.