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Cathay Pacific to cut global capacity by 30% amid coronavirus epidemic

Published 02/04/2020, 07:32 AM
Updated 02/04/2020, 07:32 AM
© Reuters. A passenger walks to the First Class counter of Cathay Pacific Airways at Hong Kong Airport in Hong Kong

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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