Cathay Pacific Airways (0293) said it remains on track to reach its 10 percent passenger capacity growth target this year despite cutting some flights for May and June due to soaring jet fuel prices.
Local flagship airline Cathay Pacific and budget carrier HK Express will maintain the integrity of its flight schedules for customers during the summer travel peak in July and August, the company said in a filing on Wednesday.
Jet fuel prices remained at highly elevated levels amidst the ongoing Middle East situation, increasing cost pressures, the filing said, adding that Cathay Pacific will extend the suspension of passenger services to Dubai and Riyadh until the end of August on a softened travel demand to the regions.
In April, travel demand was robust, and passenger load factors were high, driven by holiday and seasonal travel, while cargo volumes were healthy, the group said.
Cathay Pacific carried 2.7 million passengers in April, 17 percent more than a year ago. HK Express' passengers went up by 5 percent to 730,000 in the month.
