Soaring costs prompt Cathay Pacific to hike fuel surcharge.
Hong Kong aviation giant Cathay Pacific announced on Thursday that fuel surcharges for most routes will roughly double.
The airline released a detailed list of affected routes in a statement titled “Fuel Surcharge Updates”, following a warning that fuel prices had surged in March due to the outbreak of war in the Middle East.
Cathay Pacific Group CEO Ronald Lam told reporters on Wednesday that fuel costs this month are already double the average of the previous two months.
The increased fees will apply to tickets issued from March 18, the statement said.
As an example, tickets purchased in Hong Kong for flights to Europe will have the surcharge jump from HK$569 (roughly US$73) to HK$1,164.
On Thursday, Cathay Pacific announced extra flights to London to accommodate rising demand for travel to Europe.
The day prior, the airline noted a “general increase” in flight demand from other regions, especially for long-haul journeys, as travelers seek alternatives to routes that pass through Middle Eastern hubs.
Cathay Pacific has this week axed all flights to Dubai and Riyadh for March, continuing earlier flight suspensions.
Analysts note that although airlines hedge some of their fuel costs, profit margins could still be impacted.
From Thursday, Hong Kong Airlines also increased fuel surcharges on most of its flights.
