25 November 2008

Cathay trims fuel surcharges

HONG KONG - Cathay Pacific has been granted approval by the Hong Kong Civil Aviation Department to reduce its passenger fuel surcharge.

The reduction, valid for a two-month period effective from December 1, 2008, is to US$13.80 for short-haul services in South and North East Asia and US$64 for long-haul services.

The adjustments represent reductions of 45 percent and 40 percent respectively from the current surcharges which are US$25.10 for short-haul services andUS$106.70 for long-haul services.

Jet fuel costs continue to account for about half of Cathay Pacific's net operating costs so far this year, and the adjustments in fuel surcharges offset less than half of the airlineââ¬â¢s increased fuel cost.

Cathay Pacific said it ââ¬Åâœregrets the need to impose fuel surcharge on passengers, but the airlineââ¬â¢s fuel surcharges continue to lag far behind those imposed by other international airlines on comparable routes outside Hong Kongââ¬~.

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