Cathay cuts fuel surcharges
Cathay Pacific is reducing fuel surcharges for passengers for two months from October 1.
Passengers on long-haul services will see a 10% reduction to US$106.70.
Short-haul services in South and North East Asia charges will fall by 15% to US$25.10.
Despite recent decreases in crude oil prices, jet fuel prices remain high and continue to pose an “enormous challenge†to the aviation authority, the Hong Kong-based airline said.
Jet fuel costs account for about half of Cathay’s net operating costs but changes in surcharges cover only less than half of the increased fuel cost.
“Cathay Pacific regrets the need to impose fuel surcharges on passengers, but the airline’s fuel surcharges continue to lag behind the surcharges imposed by other international airlines on comparable routes outside Hong Kong,†a statement said.
“Cathay Pacific’s policy is to balance the interest of its customers with the need to run a cost-efficient airline in the interests of its staff and shareholders.
“The airline will continue to pursue a series of cost-efficiency measures to tackle increased costs and counter the impact of high fuel prices.â€
by Phil Davies
Phil Davies
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