Cathay to raise passenger fuel surcharges by up to 41% amid Middle East tensions
Airline says higher passenger and cargo fuel surcharges will take effect on August 1, following brief period of declines
Hong Kong flag carrier Cathay Pacific Airways will raise fuel surcharges by up to 41 per cent on most passenger flights from August, citing escalating tensions in the Middle East.
The airline said on Friday that the higher passenger and cargo fuel surcharges would take effect on August 1, following a brief period of declines after prices peaked in April.
“This is the first increase to passenger and cargo fuel surcharges since April, and levels remain below their peak in that month,” Cathay said.
Citing data from the International Air Transport Association (IATA), Cathay noted that the global average jet fuel price rose to US$149.40 per barrel for the week ending July 16, up from US$127.06 the previous week and US$119.13 in the week ending July 3.
According to the airline, fuel surcharges on flights between Hong Kong and the South Asian subcontinent will see the steepest rise, jumping 41.3 per cent from HK$448 to HK$633.
Surcharges on routes between Hong Kong and mainland China will increase by 20 per cent, while those for flights to the South West Pacific, North America, Europe, the Middle East and Africa will rise by about 41.1 per cent.