Cathay Pacific to make further cuts to flights: internal memo

Cathay Pacific to make further cuts to flights: internal memo

SYDNEY (Reuters) – Hong Kong’s Cathay Pacific Airways Ltd (HK:) will make further cuts to passenger capacity due to extremely low demand for flights, leaving it with just two flights a week each to four destinations in April, according to an internal memo.

The airline carried only 582 passengers one day this week with a load factor of 18.3%, which compares to 100,000 customers on a normal day, Cathay Chief Executive Augustus Tang said in a memo to staff seen by Reuters.

The carrier will maintain a skeleton network with two weekly passenger flights from Hong Kong to each of London, Los Angeles, Vancouver and Sydney and will also try to capitalize on stronger cargo demand, he said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Latest Category Posts