Hong Kong aviation giant Cathay Pacific announced new fuel surcharges for most routes Thursday that are roughly double the existing ones.
The company revealed a detailed list of affected routes in a statement titled “Fuel surcharge updates”, a day after warning that fuel prices had soared in March with the outbreak of war in the Middle East.
Cathay Group’s CEO Ronald Lam told a Wednesday media session the cost of fuel so far this month is double the average of the previous two months.
The hike in fees will apply to tickets from March 18, the statement said.
For example, for flights between Hong Kong and Europe that were purchased in Hong Kong, the surcharge will rise from HK$569 (around US$73) to HK$1164.
On Thursday, Cathay also announced additional flights to London to meet increased market demand for travel to Europe.
The day before, the carrier had said it had observed a “general increase” in flight demand from other regions, particularly for long-haul flights, with travellers looking for alternatives to routes that rely heavily on Middle Eastern hubs.
This week, Cathay axed all flights to Dubai and Riyadh in March, extending earlier suspensions.
Analysts say that while carriers all hedge a portion of their fuel costs, their margins could still be affected.
Hong Kong Airlines also raised the fuel surcharge for most of its flights from Thursday.
