Shares of Cathay Pacific Airways Ltd, Hong Kong's largest airline, enjoyed their biggest increase in almost six months on July 26 on plans to raise ticket surcharges to cover higher fuel costs.

The stock rose four percent to HK$20.90 (US$2.67) in Hong Kong on July 26, the biggest one-day gain since February 7. The shares earlier surged as much as 5.7 percent.

Cathay Pacific will raise surcharges from August 1 following four straight cuts, Bloomberg News said. The higher levies will help the airline cover jet fuel prices that have risen 19 percent in Singapore this year.

"The carrier needs to pass part of its rising fuel costs onto passengers," said Edward Wong, an analyst at Quam Ltd in Hong Kong. "It may not lead to a big gain in profit, but it does help."

The airline's short-haul surcharges will rise to HK$103 each way from HK$100, while long-haul levies will climb to HK$424 from HK$412, Hong Kong's Civil Aviation Department said on its Website. The carrier's Hong Kong Dragon Airlines Ltd unit, also known as Dragonair in short, will also raise surcharges to HK$103 from HK$100.

Cathay Pacific reassesses surcharges every other month.