Changing the Fuel Surcharge is far simpler than changing all the contracts that airlines have to issue.
I would love to see a comparative graph for an airline showing price of fuel vs fuel surcharges starting from Day 0 before Fuel Surcharges are introduced (yes I know it's all Hedged, but can any of us ever picture a day when YQ = £0 on an airline like BA?)
It can also advantage airlines (and disadvantage Emirates who do not have YQ) when looking at base fares. If we (those in the travel industry) were to look at base fares say, LHR - BKK, then many airlines will show before Emirates - but all are more expensive when taxes and charges are taken into account.
My biggest gripe is that YQ has seen the ending of decent travel industry specials from airlines - as it was always vastly reduced base but you paid taxes and charges. In recent years most base fares anywhere are minimal anyway (£49 to Christchurch on SQ you say??!), so the discount is largely irrelevant.