The cost of air tickets between Singapore and Hong Kong shot up by about 40 per cent within 24 hours after it was announced that the two destinations would not require quarantine upon arrival.

The cheapest price for a Singapore Airlines return economy seat to Hong Kong was S$558 on Friday morning, Oct. 16 up until the end of December.

It was previously S$400 on Thursday afternoon as the news broke.

Return business-class fares rose about HK$5,000 (S$878) to HK$19,000.

Cheaper flights were still available on other travel websites.

Help revenue

Travel bubble plans would be a boon for both sides which saw around 1 million trips made between the two regional centers every year, data from the Singapore and Hong Kong tourism boards show, Bloomberg reported.

SIA share price rose as much as 1.4 per cent on Friday on the back of the news.

SIA could see a S$15 million boost to monthly revenue and 6 per cent reduction in cash burn, Bloomgberg reported.

The route made up about 3 per cent of SIA revenue before Covid-19.

The number of flights between Hong Kong and Singapore slumped because of Covid-19.

Only 54 round trips filed for October, down 90 per cent from a year earlier, according to the consultancy arm of aviation analytics company Cirium.

Under the travel bubble, compulsory quarantine will be replaced by coronavirus testing.

Singapore Transport Minister Ong Ye Kung told reporters that he hopes the bubble will start in "weeks".

Other details of the agreement will be fleshed out later, the Hong Kong government said, without giving any date for when the plan will come into effect.

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