Emirates hikes tickets prices as oil goes up

Dubai-based Emirates airline has raised air fares across all sectors in a bid to absorb soaring oil prices.

In a statement, Emirates said the increase in fares differs by market and routes, declining to give any more details on how much the fares were hiked.

"Like every commercially-oriented business, Emirates regularly reviews its fares to reflect market dynamics including demand and rising fuel prices.. We have an active fuel risk management programme but with such market volatility it is impossible to fully absorb the impact of soaring oil prices."
 

Political instability in the Middle East has caused the price of oil to rise to around $112 a barrel.