Aviation output falls at sharpest pace in 52 months in April due to higher fuel surcharges

Korea's aviation sector output fell at the sharpest pace in 52 months in April, mainly due to a spike in fuel surcharges stemming from the prolonged Middle East conflict, government data showed Monday. The production index for the aviation sector stood at 468.5 in April, down 13.5 percent from a month earlier, according to data released by the Ministry of Data and Statistics. It marked the largest month-on-month decline since December 2021, when the index dropped 14.2 percent. Passenger transport output in the aviation sector also declined 14 percent in April from a month earlier, marking the steepest month-on-month decline since December 2021. The statistics agency attributed the sharp fall in aviation output to reduced airline passenger demand caused by higher fuel surcharges. Korean Air, the country's largest full-service carrier, raised international one-way fuel surcharges for April to between 42,000 won ($27.86) and 303,000 won, up from a range of 13,500 won to 99,000 won in March. The Mean of Platts Singapore (MOPS), a benchmark for refined petroleum products in the Asia-Pacific reg

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