Wednesday May 7, 11:01 AM
Cathay Pacific may raise ticket prices to offset higher fuel costs - chairman
HONG KONG (XFN-ASIA) - Cathay Pacific Airways Ltd (Berlin: CTYA.BE - news) chairman Christopher Pratt has warned of ticket price increases
if fuel prices continue to climb.
Pratt told reporters after Cathay Pacific's annual general meeting that the airline continues to hedge 30 pct of its fuel consumption this year.
He again said the Hong Kong flag carrier has no intention of acquiring budget long-haul carrier Oasis Hong Kong Airlines Ltd, which collapsed last month.
Commenting on reports that Cathay Pacific is seeking a 3.8 bln hkd syndicated loan for its new air cargo terminal project, Pratt said it has yet to complete its financing plans.
The carrier agreed in March to invest 4.8 bln hkd in a new cargo terminal at Hong Kong International Airport under a franchise agreement with the Airport Authority of Hong Kong.
(1 usd = 7.8 hkd)
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