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Petrobras Hike of 54.8 % in Jet Fuel Triggers New Round of Air-Fare Increases

Apr 5, 2026
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Petrobras Hike of 54.8 % in Jet Fuel Triggers New Round of Air-Fare Increases
Minutes after Petrobras confirmed, on 4 April, that the average price of querosene de aviação (QAV) sold to distributors would rise 54.8 %, airlines warned that the move adds R$ 0.42 to every passenger-kilometre flown in Brazil. The state-controlled oil company will allow distributors to pay only an 18 % increase in April and spread the balance over six months, but carriers say cash-flow pressure remains acute because fuel now represents roughly 45 % of operating costs, up from 30 % a year ago.

Petrobras Hike of 54.8 % in Jet Fuel Triggers New Round of Air-Fare Increases


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Abear, the Brazilian Airlines Association, told reporters that its members—Gol, Latam Brazil, Azul and regional players—will begin “surgical capacity trimming” on low-yield routes and raise corporate fares on trunk services by 8-10 % before the May booking curve. Analysts at BTG Pactual estimate that a one-percentage-point rise in QAV prices reduces Azul’s EBITDA margin by 70 basis points unless offset by higher ticket prices, lounge fees or ancillary revenue. The Ministry of Ports & Airports has submitted a memo to the Finance Ministry proposing temporary suspension of PIS/Cofins taxes on QAV and faster refunds of ICMS paid on international legs. While the measures could save carriers R$ 480 million in 2026, they require Congressional approval, which may not come before the July recess. For mobility managers the message is clear: budget assumptions made in January are already obsolete. Companies with high volumes of domestic travel should lock in block-seat deals where possible, revisit per-diem tables, and encourage virtual meetings for intra-Brazil staff rotations until price volatility stabilises.

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