Cathay Pacific and its subsidiary HK Express are significantly cutting flight schedules from mid-May through June due to a sharp increase in jet fuel prices. The airlines attribute the surge in costs to the ongoing conflict in the Middle East, which has disrupted supply chains and driven up oil prices globally. This move impacts a notable percentage of their planned flights, with affected passengers being rebooked onto alternative services.
The decision by Cathay Pacific and HK Express to reduce capacity comes as a last resort to mitigate the financial pressure from escalating jet fuel expenses. The airlines noted that the average global jet fuel price has more than doubled, rising from approximately $99.40 per barrel in late February to $209 per barrel in early April. This dramatic increase has strained airline operations worldwide.
Cathay Pacific’s reduction of 2% of its scheduled passenger flights will primarily affect regional routes, with a smaller impact on services to Australia, South Asia, and South Africa. The airline will also maintain the suspension of its passenger services to Dubai and Riyadh until the end of June. Meanwhile, HK Express, the group’s budget carrier, will implement a more substantial cut of 6% of its flights during the same period.
Both airlines have assured customers that efforts are being made to minimize disruption. Affected passengers will be offered rebooking on flights departing within 24 hours of their original scheduled time, with notifications expected by April 13. While these cuts are planned through June, Cathay Pacific and HK Express intend to resume their full flight schedules beyond that period. However, industry experts caution that relief from high fuel prices may not be immediate, even with a ceasefire in the Middle East, as supply chain issues are expected to persist for months.