Will Travel Ticket Prices Rise in Lebanon?

The President of the Syndicate of Travel and Tourism Offices in Lebanon, Jean Abboud, reassured in a statement that "the rise in oil prices has not affected travel ticket prices," clarifying that "oil is not the only factor that determines the operating costs of airlines; there are multiple elements." Abboud confirmed that "despite the continuous rise, there will not be an increase in ticket prices unless the cost of fuel rises more than 25% from its current rate." According to Abboud, "the body that raises travel ticket prices is the International Air Transport Association (IATA) and not fuel companies; thus, airlines request the IATA to raise prices if the cost of any operational elements, including fuel, increases." Abboud explained that "the IATA does not raise prices if the cost of any operational element increases minimally; consequently, price increases occur only with a 25% rise in the cost of any operational element." He noted that "with the onset of the Gaza war, insurance companies raised their prices by 80% on airlines operating in Beirut, and at that time, travel ticket prices did not rise, as insurance costs are also one of the operational cost factors and constitute a small percentage of it."