Cathay trims summer flying

Cathay Pacific is cutting a small slice of its summer schedule after jet fuel prices surged in recent weeks. (cathaypacific.com) The Hong Kong carrier said it will consolidate some passenger flights from May 16, 2026, through June 30, 2026. Its low-cost unit HK Express will trim some flights from May 11 through June 30. (cathaypacific.com) Cathay said the cuts affect about 2 percent of its scheduled passenger flights, while HK Express will cut about 6 percent. The airline said the move was meant to “mitigate part of the increased costs” after other fuel-saving measures fell short. (cathaypacific.com) Jet fuel is the refined kerosene airlines burn, and it is one of the industry’s biggest bills. Reuters reported prices jumped from about $85-$90 a barrel to roughly $150-$200 a barrel in recent weeks. (reuters.com) Reuters said the fuel spike was tied to the U.S.-Israeli war on Iran, which has disrupted aviation markets and pushed airlines worldwide to raise fares, add surcharges, and trim forecasts. Cathay told customers earlier that flights to Dubai and Riyadh would remain suspended through June 30. (reuters.com, cnbc.com) Fuel already carried heavy weight in Cathay’s cost base before this latest spike. Cathay said in a recent surcharge notice that fuel accounted for about 30 percent of its total operating costs in 2025. (aircargoweek.com) Cathay says it uses hedging, a kind of price insurance, to lock in part of its fuel bill ahead of time. But the airline said its 2026 hedging covers only around 30 percent of the crude-oil component and does not cover the refinery component, leaving it exposed to the latest jump. (aircargoweek.com, cathaypacific.com) Cathay had been rebuilding aggressively after the pandemic, and its 2025 annual results showed fuel costs before hedging rose by HK$2.26 billion from 2023. The company also said it planned to keep expanding passenger and cargo capacity in 2026. (cathaypacific.com, cathaypacific.com) For travelers, the immediate effect is fewer flights on some routes during late May and June, even as Cathay says the reduction is limited. The carrier called cutting capacity its “last resort,” a sign that fuel costs have moved from a margin problem to a network problem. (cathaypacific.com, reuters.com)