Cathay Pacific Airways and Hong Kong Express Airways will reduce transport capacity due to rising costs caused by the sharp increase in jet fuel prices.
Cathay Pacific Airways will reduce the number of flights by 2 percent overall from May 16 to June 30. The cuts will mainly affect intra-regional routes, as well as some routes to and from Australia, South Asia, and South Africa. Affected passengers will be rebooked on flights departing within 24 hours of their original departure time.
Hong Kong Express Airways will reduce the number of flights by approximately 6 percent overall from May 11 to June 30. Affected passengers are scheduled to be rebooked on flights departing within 24 hours of their original departure time, and will be notified by April 13.
According to the International Air Transport Association (IATA), the global price of jet fuel surged from 99.40 US dollars per barrel in the week of February 27 to 209 US dollars per barrel in the week of April 3. Cathay Pacific Airways has also raised its fuel surcharge.
