SINGAPORE: Cathay Pacific Airways announced on Thursday (Mar 12) that it will raise fuel surcharges on most routes from Mar 18.
The Hong Kong flagship carrier said in a statement that the price of jet fuel has “approximately doubled” amid the war on Iran, which began on Feb 28.
The adjustment to the fuel surcharge is in line with its established mechanism, Cathay Pacific added.
For short-haul flights, the fuel surcharge will increase to HK$290 (US$37), up from HK$142.
The surcharge for medium-haul flights will rise to HK$541 from HK$264, while that for long-haul flights will more than double from HK$569 to HK$1,164.
“The fuel surcharge is reviewed regularly and closely tracks the price of refined jet fuel,” the airline said, as it published a detailed list of affected routes.
Cathay Pacific adjusts its fuel surcharges on a monthly basis, taking fuel prices into account.
On Wednesday, the airline said that it would soon announce a surcharge rise due to the war in the Middle East.
It has sent the price of oil and gas soaring, with Iran’s Revolutionary Guards vowing to choke off traffic in the Strait of Hormuz, one of the world’s key energy transit routes.
The average global price of jet fuel has surged even faster, reaching US$173.91 per barrel on Monday, according to the Platts benchmark index.
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