A spokesperson for the airline said it does not expect the price of jet fuel to normalise anytime soon. However, the airline stressed that the adjusted cost of an average flight will remain below the 15-year highs recorded at the end of last year. Qantas - which accounts for more than 60 per cent of the local market - first flagged a potential hike to airfares last month when it revealed the businesses fuel bill for the first half of 2024 was likely to increase by $200 million to $2.8 billion. It also forecast an additional $50 million impact due to the foreign exchange rate. At the time, Qantas said it would "look to balance" the increases with the need for affordable travel during a period in which airfares are already more expensive than usual.