Cebu Pacific raises fares by 26 percent as fuel costs rise
The Philippine carrier increased fares by up to 26 percent to offset rising jet fuel prices. Management may reduce third-quarter capacity if costs remain high.
The budget carrier Cebu Pacific has announced significant fare increases and potential capacity reductions as it grapples with the economic fallout of the conflict in the Middle East. Based on reports from Hong Kong, the airline has raised all-in average fares by as much as 26% for the period between March and May compared to levels seen earlier this month.
Management noted that the price adjustments were necessary to offset a sharp spike in jet fuel costs. This volatility stems from the ongoing military conflict involving the United States and Israel against Iran. While the airline has secured fuel supplies through the end of April, it is currently working to finalize requirements for May and beyond to avoid imminent flight cancellations.
