I do fasted cardio 7 days a week. 15 min HIIT, 15 min steady state upon waking. I have been following intermittent fasting and fast from morning till 2:00pm every day. On non training days I also do another half hour of cardio (same regimen - 15min HIIT, 15 min steady state) before I eat for the first time in a day for a total of one hour of fasted cardio.
This is when over 10% BF. I do think that as you drop you have to do things a bit smarter to avoid losing muscle but if you have some fat to spare fasted cardio is the best way to get rid of it.