Cathay Pacific to make further cuts to flights -internal memo


SYDNEY, April 3 (Reuters) - Hong Kong's Cathay Pacific Airways Ltd 0293.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 capitalise on stronger cargo demand, he said.

(Reporting by Jamie Freed; Editing by Tom Hogue)

((; +61 2 9321 8174;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.