Airlines flying into Sri Lanka now face a massive surcharge after three commercial jets were destroyed by suicide bombers at Colombo airport.

Insurance sources told Reuters about $350 million has been set aside to cover most of the damage of the attacks but there has been no formal announcement of how much premiums will rise.   

Unofficial reports say the surcharge will go up by $115,000 per flight depending on the category of the aircraft.  The premium is usually equal to 0.1 per cent of the value of the aircraft. 

The increases will effectively cause ticket prices to rise dramatically, causing a downturn in Sri Lanka’s already depressed tourism industry.