Cathay Pacific Faces High Oil Prices, Announces Fuel Surcharge Increase

SighingCashier · 2026-03-12T09:59:54+00:00

Due to instability in the Middle East and rising international oil prices, Cathay Pacific has announced an increase in fuel surcharges for both passenger and cargo services. Chief Executive Officer Lin Shaobo stated that fuel prices in March nearly doubled, and Cathay Pacific has hedged 30% of crude oil to mitigate cost pressures.

SighingCashier

2026-03-12 09:59:54

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March 12, 2026

Cathay Pacific anticipates fuel surcharge increase due to rising oil prices

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The instability in the Middle East has caused international oil prices to soar. Cathay Pacific (00293) CEO Rupert Hogg stated at an investor conference yesterday that fuel prices in March nearly doubled compared to the previous two months. To ease the pressure of fuel costs, the group has hedged 30% of its crude oil. They also announced that they will soon increase fuel surcharges for both passenger and cargo services. Regarding ticket prices, Cathay Pacific pointed out that the situation in the Middle East has led to a significant increase in demand for flights from Hong Kong to Europe. Additionally, Cathay’s seat occupancy rates in March and April are…

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