The fuel surcharge imposed by airlines is something that gets passengers hot under the collar. Together with an array of airport fees and charges, they sometimes account for a significant share of the ticket price. Thankfully, the levy on outbound flights is no longer allowed in the wake of falling oil prices.

It is therefore bad news that Cathay Pacific and its subsidiary Dragonair are reviving the surcharge on flights to Hong Kong. The decision came after a slowdown in business and wrong-way bets on oil prices resulted in an 82 per cent slump in net profits in the first half of this year. But the HK$109 levy will not apply to trips originating from the city, as the Civil Aviation Department has suspended the charge on outbound flights since February.

Like their overseas counterparts, the Hong Kong carriers have resorted to fuel price hedging to stabilise operating cost. While it helps reduce exposure to volatile and potentially higher fuel costs, it is essentially a bet on future price fluctuations . With crude oil prices plunging sharply over the past two years, those who locked in prices at high levels have suffered. In the case of Cathay Pacific, billions of dollars have been lost.

A fuel surcharge is meant to compensate for spiralling fuel costs. It makes no sense to revive it when prices are falling. After all, the company is responsible for its business strategies and decisions, be it good or bad. Passengers can be excused for feeling victimised by the company’s mistakes.