Cathay Pacific to cut flights from mid-May to end-June as jet fuel costs rise

Cathay Pacific has announced it will reduce flight capacity from mid-May to the end of June, citing rising jet fuel costs driven by the ongoing conflict in the Middle East.

The Hong Kong-based carrier said on Apr. 11 that it will cancel about 2 per cent of its scheduled passenger flights between May 16 and Jun. 30, 2026, reported Reuters.

Its low-cost subsidiary, HK Express, will also reduce capacity by about 6 per cent from May 11.

The airline further stated that the suspension of its passenger services to Dubai and Riyadh will remain in place until Jun 30.

“Jet fuel consists of crude oil and refinery costs, both of which are seeing sharp increases,” Cathay Pacific said in a media statement.

The airline said that the consolidation measures were not taken lightly and apologised to customers for any inconvenience caused, adding that “cutting back on capacity has always been our last resort”.

Expected to resume normal operations after June

According to data from the International Air Transport Association (IATA), the global average jet fuel price rose to US$209 (S$266) per barrel for the week ending Apr. 3, up significantly from US$99.40 (S$126) per barrel for the week ending Feb. 27.

Despite the short-term reductions, Cathay Pacific said it expects both itself and HK Express to resume normal operations for all scheduled passenger flights after June.

However, Reuters reported that a recent two-week ceasefire between the United States and Iran is unlikely to provide immediate relief to the aviation sector.

Industry officials added that jet fuel supply is expected to remain tight and expensive in the coming months, even if Iran reopens the Strait of Hormuz, a critical global shipping lane.

Top image via Cathay Pacific on Facebook