How significantly did fuel costs rise for Cathay Pacific in the first half?

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Fuel Costs Nearly Doubled for Cathay Pacific in the First Half of the Year

Cathay Pacific experienced a substantial increase in fuel costs during the first half of the year, with prices nearly doubling from the first quarter to the second quarter. This surge was directly attributed to the conflict in the Middle East, which significantly impacted operational expenses.
Impact of Middle East Conflict on Fuel Prices

The outbreak of war in February directly led to a near doubling of Cathay Pacific's fuel costs. This escalation in prices presented a significant challenge, particularly in the second quarter of the financial year.
Multiple Fuel Surcharge Adjustments

In response to the escalating fuel expenses, Cathay Pacific implemented multiple adjustments to its fuel surcharges. These increases were introduced progressively since the conflict began in February, aiming to mitigate the financial impact on the airline.
Resilience Amidst Rising Costs

Despite the considerable rise in fuel costs, Cathay Pacific reported a 71 per cent surge in net profit for the first half of the year. This positive financial performance was aided by strong underlying demand for both passenger and cargo services, as well as improved contributions from HK Express and associates. The airline highlighted its business resilience in navigating these challenging circumstances.

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How significantly did fuel costs rise for Cathay Pacific in the first half?

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