Cathay Pacific, Dragonair seek higher fuel surcharge

Two foreign airlines are seeking an increase of as much as 8.7 percent in the fuel surcharge levied on their passengers.

Cathay Pacific Airways Ltd. and Hong Kong Dragon Airlines Ltd. separately filed petitions with the Civil Aeronautics Board (CAB) to impose a six-percent increase in fuel surcharge from $116.4 to $123.3 per passenger for flight coupons between Hong Kong and Southwest Pacific, North America, Europe, Middle East, Africa, and the South Asian sub-continent, including same-day transit within 24 hours in Bangkok or Singapore.

For other flights, the airlines want intend to raise the fuel surcharge by 8.7 percent, from $29.1 to $31 per passenger.

According to the International Air Transportation Association's (IATA) Jet Fuel Price Monitor, the average price of jet fuel as of February 15 was at $138.3 per barrel, a 2.5-percent increase year-on-year.

Jet fuel prices are currently averaging $133.7 per barrel, higher than IATA's full-year target of $130.3 per barrel. This translates to an $12 billion in additional fuel costs for all airlines worldwide.

Cathay Pacific flies the Hong Kong-Manila route 37 times a week and the Hong Kong-Cenu route seven times a week. Dragonair flies the Manila-Hong Kong route seven times a week and also offers daily flights between Clark Freeport and Hong Kong. — BM, GMA News