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CX: Flight Arrangements for Sep and Beyond Subject to Situation
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CATHAY PAC AIR (00293.HK) has ensured to operate all scheduled flights as normal during the peak summer travel season in July and August. CEO Ronald Lam stated that arrangements for September and beyond will depend on situation. He expressed hope that by September the Middle East situation and high oil price situation would have more clarity and would have eased, and therefore the airline does not need to cancel more flights. Lam added that it is a bit too early to make definitive conclusions. CATHAY PAC AIR must remain agile, but will try to protect the capacity as much as it could. The current Iranian oil crisis has shored up airlines’ costs, forcing CATHAY PAC AIR to raise fuel surcharges. Lam said the company is evaluating whether adjustments to its fuel hedging policy are needed. However, he noted that no shortage of aviation fuel has emerged so far and it is unlikely to pose a risk in the future. AASTOCKS Financial News |
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