Cathay Pacific to hike fuel surcharge by 34% as jet fuel prices surge

Cathay Pacific to hike fuel surcharge by 34% as jet fuel prices surge | Reuters Skip to main content The global average jet fuel price has nearly doubled since the start of the war in the Middle East on February 28, surging to $197 a barrel in the week ending March 20, according to the International Air Transport Association, opens new tab(IATA). Sign up here. The unprecedented surge in fuel costs, which accounts for up to a quarter of the industry's operating expenses, has upended global aviationand force ...