From: Reuters
Published March 10, 2008 08:37 AM

Lufthansa ups fuel surcharges on European flights

FRANKFURT (Reuters) - Germany's Deutsche Lufthansa <LHAG.DE> is raising surcharges on domestic and European tickets as the price of oil continues to soar.

Travelers will pay an extra 17 euros each way from Thursday, up from 14 euros previously.

Surcharges on long-haul services will remain at 77 euros each way, the carrier said in a statement on Monday.

"In recent weeks, crude oil and kerosene prices have again reached a new peak," Lufthansa said. "In response to this development, Lufthansa is adjusting its fuel surcharge on its flights on domestic and intra-European routes."

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U.S. crude oil <CLc1> was trading at $104.33 a barrel at 1150 GMT on Monday after reaching a record $106.54 on Friday.

Lufthansa expects its 2007 fuel bill to soar to almost 4 billion euros ($6.14 billion). The airline is due to publish full results for last year on Wednesday.

Shares in Lufthansa were slightly higher at 15.21 euros by 1210 GMT, compared to a 0.1 percent weaker German blue-chip DAX index <.GDAXI>.

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