Low-cost carrier Jeju Air will raise the fares for its domestic flights by an average of 12.8 percent from Oct. 4, the airline said on Thursday.

The decision follows similar price hikes by Korean Air and Asiana Airlines in July and August, as well as by Air Busan, a low-budget airline, on Sept. 1.

Under the new pricing policy, a flight between Gimpo and Jeju will jump from W58,800 (US$1=W1,128) to W65,600 on weekdays, and from W67,600 to W76,000 on weekends, up 11.6 percent and 12.4 percent, respectively. During peak seasons, the same fare will climb from W80,900 to W93,000 throughout the week, a 15 percent increase.

For flights between Jeju and Busan, tickets will increase 14.2 percent from W47,200 to W53,900 on weekdays, and 10.4 percent from W57,900 to 63,900 on weekends.