The airline said on Thursday that considering the scale of recent surges in jet fuel prices, its fuel hedging measures were “insufficient” to mitigate and recover the cost. Fuel accounted for around 30 per cent of its operating costs last year, it said.

From April 1, the fuel surcharge for long-haul flights will increase by HK$396 (US$50.63) to HK$1,560, or by 34 per cent from the current HK$1,164.

The surcharge for short-haul flights will rise from HK$290 to HK$389, and for medium-haul flights from HK$541 to HK$725.

On long-haul flights, for example, such as those between Hong Kong and destinations in North America, Europe and the Middle East, the surcharge will be nearly triple the HK$569 charged before the war.

“The ongoing volatile situation in the Middle East continues to have a significant impact on the price of jet fuel, and this is placing considerable pressure on airlines around the world,” Cathay said.

The airline said it would review the surcharge every two weeks to better capture jet fuel price movements.