Asia-Pacific airports will be able to navigate heightened jet fuel prices given their solid fundamentals, S&P Global Ratings said on Monday.

The rating agency expects fuel prices to remain elevated for longer as a full reopening of the Strait of Hormuz could be difficult.

Higher surcharges due to elevated fuel costs could reduce traffic, with many airlines shaving off their flight networks, S&P said.

Large expansion projects driven by optimism about post-pandemic passenger growth also add to uncertainties, the rating agency said.

Some airports will withstand pressure as they serve as key global hubs, gaining from diversified traffic and capturing passenger volume reroutes from the Middle East, S&P analyst Christopher Yip said.

Solid demand also anchors other domestic-focused airports, Yip said.

Airports could offset less traffic with tariff mechanisms or non-aeronautical revenue, the analyst said.