Air ticket prices in Brazil almost touch the sky

Major Brazilian airlines (VARIG, TAM, VASP and GOL) decided to jack up air ticket prices in the wake of a 24.4 percent increase tacked by PETROBRAS on the price of aircraft fuel.

VARIG rose fares by 9.6 percent, while TAM, VASP and GOL followed suit with 9.3, 10.1 and 9.2 percent respectively.

Fares fixed by VARIG and TAM on the air connection between Rio de Janeiro and Sao Paolo are the only ones that walked unscathed out of this price-soaring frenzy.