Cathay Pacific raises fuel surcharge on all flights by 34pc

HONG KONG: Hong Kong aviation giant Cathay Pacific announced Thursday it was raising fuel surcharges on all flights by 34 percent 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 percent, while medium- and long-haul would increase by 34 percent exactly.

The hike in fees will apply to tickets from April 1, the statement added. Average jet fuel prices increased globally to USUSD197 per barrel last week, up from USUSD95.50 a month ago, according to data by the International Air Transport Association (IATA).