US EditionCathay Pacific to Hike Fuel Surcharge by 34% as Jet ...
Cathay Pacific cites a surge in jet fuel prices amid Middle East conflict and will review surcharges biweekly as a temporary response to rising costs.
- On Thursday, Hong Kong aviation giant Cathay Pacific announced it will raise fuel surcharges on all flights by 34 percent, effective April 1, citing rising oil costs from the Middle East war.
- Global jet fuel prices surged to US$197 per barrel last week, according to International Air Transport Association data, prompting many global airlines to implement similar surcharges.
- Cathay will increase surcharges by 34.1 percent on short-haul flights and 34 percent on medium- and long-haul routes, though its hedging covers only around 30 percent of crude oil components.
- While extending flight suspensions to and from Dubai and Riyadh until May 31, the airline said Wednesday it will operate extra flights to London, Paris and Zurich "to cater for an upsurge in market demand for Europe."
- Cathay will review and revise its fuel surcharge every two weeks as a temporary measure, warning that "if the steep increase of fuel costs cannot be effectively mitigated, we would not be able to sustain the effective operations of our network.
22 Articles
22 Articles
Cathay Pacific raises fuel surcharge for all flights by 34% amid ongoing Middle East war
Hong Kong aviation giant Cathay Pacific announced Thursday it was raising fuel surcharges on all flights by 34 percent as a result of increasing oil costs due to the Middle East war. Cathay Pacific aircraft. Photo: Kelly Ho/HKFP. “The price of jet fuel comprises both the crude oil component and the refinery component, both of which have increased significantly in recent weeks,” the company said in a statement. It also shared a list outlining sur…
Cathay to increase fuel surcharge for all flights by 34%
HONG KONG - Hong Kong flag carrier Cathay Pacific Airways will increase its fuel surcharge for all flights by 34% from April - the second increase in two weeks - citing "considerable pressure" as conflict in the Middle East impacts oil prices.
Times of India
The Economic TimesCathay Pacific to raise fuel surcharge on all flights by 34% from April 1
Hong Kong aviation giant Cathay Pacific announced Thursday it was raising fuel surcharges on all flights by 34 percent as a result of increasing oil costs due to the Middle East war. It previously doubled fuel surcharges for most of its routes as a result of the war in the Middle East, and this week extended flight suspensions to and from Dubai and Riyadh until May 31.
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