HONG Kong aviation giant Cathay Pacific announced Thursday it was raising fuel surcharges on all flights by 34 per cent as a result of increasing oil costs due to the Middle East war. “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 surcharge increases on short-haul flights of 34.1 per cent, while medium- and longhaul would increase by 34 per cent exactly. The hike in fees will apply to tickets from 1 April, the statement added. Average jet fuel prices increased globally to $197 per barrel last week, up from $95.50 a month ago, according to data by the International Air Transport Association (IATA).
“If the steep increase of fuel costs cannot be effectively mitigated, we would not be able to sustain the effective operations of our network,” Cathay said. — AFP
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