Cathay Pacific to cut 2020 capacity by 1.4% - memo
Reuters
Published Nov 29, 2019 02:34AM ET
Cathay Pacific to cut 2020 capacity by 1.4% - memo
SYDNEY (Reuters) - Hong Kong carrier Cathay Pacific Airways Ltd (HK:0293) plans to cut capacity by 1.4% next year, reversing an earlier plan for a boost of 3.1%, because of a challenging business outlook, an internal memo seen by Reuters showed.
"Put another way, rather than growing our airline in 2020, for the first time in a long time, our airline will reduce in size," it said in the memo.
A Cathay representative said it had no comment.
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Written By: Reuters
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