Tuesday, November 25, 2008

Cathay lowers fuel surcharge

Cathay Pacific Airways Ltd, Hong Kong's largest airline, will lower ticket surcharges by as much as 45 percent because of plunging jet-fuel prices.

Short-haul levies will drop to HK$108 (US$13) each way from HK$196, and long-haul surcharges will fall to HK$499 from HK$832, from December 1, the carrier said yesterday. Cathay Pacific joins Singapore Airlines Ltd and Japan Airlines Corp in reducing surcharges after jet-fuel prices tumbled 63 percent from a record high. The price of jet fuel fell to US$67.95 a barrel yesterday.

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