Cathay Pacific Airlines warns that if fuel prices remain high, they may reduce flights after the summer.

Cathay Pacific Airways CEO Lin Shao Po said if fuel prices remain high, the airline may cut some flights in September. Lin Shao Po told reporters on Sunday in Rio de Janeiro at an industry conference that he hopes the impact of the Middle East war will become clear by then, so he won't have to cancel more flights. Cathay Pacific has committed to operating all flights during the peak summer travel season in July and August. Despite benefiting from some demand that might have gone to Gulf airlines, the Asian carrier has not been immune. The Iran oil crisis has raised costs, forcing Cathay Pacific to add up to HK$3,120 in fuel surcharges for round-trip flights, although this cost has since been reduced. Regarding fuel hedging, Mr. Lin said Cathay Pacific plans to evaluate adjusting its policies to include refining costs or cracking spreads in order to stabilize price fluctuations. The airline hedges up to 50% of its fuel demand for the next two years. He said a shortage of aviation fuel is currently not a problem and is unlikely to pose a risk.