Weekly Business

Air Fare Hike

Competition is stiffening in the airline industry, not because of the entry of new players, but because of rising aviation fuel price. Starting April 1, Pertamina has increased the price of the fuel by 21.2 percent to Rp4,565 a liter. The increase was pushed by the rising crude oil price and falling value of the rupiah to Rp9,500 per US dollar. "The airline industry is in deep water as aviation fuel now accounts for 30-

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