Cathay Pacific will cancel two percent of its flights from May 16 to June 30, according to multiple reports. The cancellations are expected to impact hundreds of routes and thousands of travelers, affecting regional routes and popular long-haul flight destinations across Australia and South Asia, though the specific routes and total number of flights and passengers affected have not been disclosed. Cathay Pacific's budget airline HK Express will cut six percent of flights, multiple reports indicate, representing a more severe reduction than the parent company's cancellations.
Cathay Pacific said the cancellations are a last resort due to increased costs, particularly relating to jet fuel, with the airline attributing the move to financial pressures. Jet fuel prices have rocketed around the world since the outbreak of the Iran war and its blockade of the Strait of Hormuz, according to major media sources. The ongoing volatile situation in the Middle East continues to negatively impact the price of jet fuel, placing huge cost pressure on airlines around the world, Cathay Pacific stated, though the exact financial impact on the airline remains unclear.
All affected customers will be offered protection onto flights departing within 24 hours of their originally scheduled flights.
The Strait of Hormuz, a key global shipping passage through which more than 20 percent of the world's oil and gas travels, has seen just a handful of ships pass through each day since the conflict erupted on February 28, major media reports show, severely disrupting global oil and gas shipments, but it is unknown how long the blockade will last or if other airlines are implementing similar cancellations due to the fuel crisis. All affected customers will be offered protection onto flights departing within 24 hours of their originally scheduled flights, Cathay Pacific confirmed. This contrasts with earlier expansion plans, as in March, Cathay Pacific aired plans to instead increase passenger capacity on long-distance flights by ten percent, according to major media.
The cancellations come amid a broader aviation industry challenge, with airlines worldwide grappling with the surge in fuel costs driven by the Middle East conflict, though the full extent of disruptions across other carriers is not yet known.
The ongoing volatile situation in the Middle East continues to negatively impact the price of jet fuel, placing huge cost pressure on airlines around the world.