Cathay Pacific to cut global capacity by 30% amid coronavirus epidemic
Reuters
Published Feb 04, 2020 07:32AM ET
Cathay Pacific to cut global capacity by 30% amid coronavirus epidemic
SYDNEY (Reuters) - Hong Kong's Cathay Pacific Airways Ltd (HK:0293) plans to cut 30% of its global capacity over the short-term, including 90% of capacity to mainland China as it grapples with a sharp fall in demand due to the coronavirus epidemic, its CEO said on Tuesday.
"We will monitor the situation closely and adjust accordingly," Cathay Chief Executive Augustus Tang said in a memo to staff seen by Reuters.
The South China Morning Post first reported the planned capacity cuts.
(This story corrects CEO first name in para 2)
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Written By: Reuters
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