Airfares rise as Japan overtakes Indonesia as Australian favourite and ASX rises

Airfares are set to climb as Virgin Australia cuts flights to manage rising fuel costs, while Qantas flags a sharp increase in its fuel bill, reshaping travel plans for Australians. Phoebe Deas speaks with Ellis Taylor from Cirium on what these changes mean for the aviation sector, as new data reveals Japan has overtaken Indonesia as Australia’s second most popular destination, helped by a stronger exchange rate. Meanwhile, the ASX closes slightly higher, with insight from Scott Phillips of The Motley Fool on the market’s mixed performance.

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