Cathay Pacific Airways Ltd, Hong Kong's largest airline, will raise its ticket surcharges for the fourth time in six months because of higher fuel prices.
Short-haul levies will climb to HK$123 (US$16) each way from HK$113, with long-haul surcharges rising to HK$508 from HK$466, starting on February 1, Hong Kong's Civil Aviation Department said.
The carrier's Hong Kong Dragon Airlines Ltd unit will raise short-haul surcharges to HK$123 from HK$113 and charge long-haul levies of HK$508, according to Bloomberg News.
Cathay Pacific has raised surcharges and ordered more fuel-efficient jets to offset surging fuel prices. The cost of jet kerosene, the biggest expense for most Asian airlines, has surged 48 percent over the past year.
The carrier agreed to buy 17 Boeing airplanes, valued at about US$5.2 billion, in November to expand its fleet and to replace older aircraft. Fuel accounts for more than 30 percent of Cathay Pacific's costs.
(Shanghai Daily January 28, 2008)
