Cathay trims summer flying

Cathay Pacific will cancel a slice of its passenger schedule from May 16 through June 30 after jet-fuel prices surged. (cnbc.com) The Hong Kong carrier said it will cut about 2 percent of scheduled passenger flights in that period, while low-cost unit HK Express will trim about 6 percent starting May 11. (businesstoday.com.my) Cathay said the reductions fall mainly on regional routes, with some services to Australia, South Asia and South Africa also affected. Passenger flights to Dubai and Riyadh will stay suspended through June 30. (scmp.com) The airline tied the move to a sharp jump in fuel costs after fighting in the Middle East disrupted energy markets. International Air Transport Association data cited by Cathay showed average global jet fuel prices at US$209 a barrel for the week ended April 3, up from US$99.40 on February 27. (ttgasia.com) Jet fuel is refined from crude oil, so airlines get hit twice when oil and refinery costs rise together. Cathay said both inputs were climbing, and called capacity cuts a last resort after earlier raising fuel surcharges effective April 1. (businesstoday.com.my, aircargoweek.com) The cutbacks land just weeks after Chief Executive Ronald Lam said Cathay still planned to expand passenger capacity by 10 percent in 2026. He pointed to strong long-haul demand to North America, Europe and Australia even as Middle East traffic weakened. (ttgasia.com) Cathay said it expects to run its full scheduled passenger network again after June, though that depends on fuel prices and developments in the Middle East. Aviation executives told Reuters this week that any relief could be slow even if shipping routes reopen. (humanresourcesonline.net, businesstoday.com.my)