Cathay Pacific CEO: Summer Demand Is Holding Up Despite Fuel Price Shock
Photo Credit: Ronald Lam, the Cathay Group CEO. Cathay Pacific
Skift Take
Strong summer demand and weakened rivals are buying Cathay room to absorb the fuel spike – the test is whether that cover holds once the peak fades.
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For Cathay Pacific, the answer – at least for now – appears to be quite a lot. Speaking to Skift on the sidelines of the conference, Group CEO Ronald Lam said the carrier is seeing little evidence that demand is weakening despite higher operating costs and continued geopolitical uncertainty.
"We had a very strong quarter one into quarter two," Lam said. "Then, like all airlines in the world, we faced the jet fuel price escalation."
But unlike previous disruptions, Cathay is not pulling back schedules significantly. "Our objective is to try to keep our flight capacity intact, whether it's long-haul or short-haul flights," he said.
The Hong Kong-based carrier canceled a relatively small number of flights earlier in the crisis and exp
