Four airlines including Cathay Pacific and Singapore Airlines (SIA) are to reduce fuel surcharges by more than 40 percent from February 1.

Hong Kong's Civil Aviation Department (CAD) approved the changes on January 22.

The price of crude oil has fallen to around US$40 (HK$312) a barrel from a high of almost US$150 six months ago.

Cathay, Singapore Airlines, All Nippon Airways (ANA) and Nepal Airlines (RNA) will reduce the levy on short-haul flights from HK$108 to HK$61, while the surcharge for long-haul routes will drop from HK$499 to HK$280.

"Fuel surcharges are a type of aviation tariff which requires the approval of the relevant aeronautical authorities before they can be levied," a Civil Aviation Department spokeswoman said on January 22. "The Civil Aviation Department has taken into account the need to safeguard the interests of the traveling public as well as the need for airline operators to recoup their costs."

A Cathay Pacific spokesman said the airline's fuel surcharges are significantly lower than those of other international airlines on comparable routes.

He said most airlines currently levy fuel surcharges of around US$80 for short-haul flights and up to US$200 for long-haul journeys.

The previous price adjustment was in November 2008 and the new surcharges will be effective from February 1 to March 31.

Applications for changes in fuel surcharges are accepted every two months and the airlines' justification are taken into consideration before approval is given, the department's spokeswoman said.