Cathay Group also said on Friday that it aimed to restore all flights after June. The company earlier announced it was cutting the number of Cathay Pacific flights by 2 per cent and HK Express services by 6 per cent between mid-May and the end of June.

The group attributed the passenger growth to a spate of mega-events in the city, such as Art Basel and the Hong Kong International Jewellery Show, with demand for leisure travel remaining strong for the Easter holiday in early April.

“March was a month of contrast,” Lavinia Lau Hoi-zee, Cathay’s chief customer and commercial officer, said.

“On the one hand, the ongoing situation in the Middle East shifted demand towards other aviation hubs and generated robust volumes on our flights.

“On the other hand, the price of jet fuel has increased significantly since the start of March, and this is placing huge cost pressure on airlines around the world.”