THE cost of flying to and from Guernsey is set to rise significantly, airlines warned yesterday.

‘The current level of oil prices means that our fuel bill for 2008 will overrun by some 19%, from £2.6m. to £3.1m.,’ said Aurigny managing director Malcolm Hart, pictured.

‘Given that it is highly unlikely that prices will fall, it is inevitable that, like many airlines, our prices may have to rise this year to simply allow us to stand still. These are being reviewed.’

Flybe said that it had a hedging policy in place that would allow it to buy its future fuel needs in percentage slices across the year, helping to smooth market spikes. Chief commercial officer Mike Rutter said that even though some airlines were going to the wall, Flybe would continue to look for new routes.

But he said passengers would have to pay more if crude oil prices failed to drop.