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Qantas to raise fares on high fuel prices


A Qantas Airways Boeing 747 is seen parked at Bangkok's Suvarnabhumi airport January 26, 2011. REUTERS/Sukree Sukplang
A Qantas Airways Boeing 747 is seen parked at Bangkok's Suvarnabhumi airport January 26, 2011. REUTERS/Sukree Sukplang

SYDNEY (Reuters) - Australia's top airline Qantas <QAN.AX> has raised airfares to offset rising fuel costs that is threatening airline profits.

Qantas said it will raise fares by up to A$10 per sector in domestic and regional fares for tickets issued on or after March 31 and Tasman fares will go up by as much as 8 percent. The fare increases come on top of two increases in fuel surcharge.

Qantas Chief Executive Officer Alan Joyce said in a statement the current situation presented a significant threat to airlines in Australia and around the world.

"Since international fuel surcharges and domestic fares increased last month, jet fuel prices have increased by a further 15 per cent, to more than US$134 per barrel today."

(Reporting by Narayanan Somasundaram)

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