Cathay Pacific Group will slash 40 per cent of its passenger capacity for February and March as passenger numbers continue to slide.
In it latest performance update issued this week, Cathay Pacific Group reported that Cathay Pacific and Cathay Dragon had see a 1.3 percentage point decrease in their passenger load factor to 84.7 per cent over the same time last year.
In his outlook for 2020, Cathay Pacific Group chief customer and commercial officer Ronald Lam said: “The first half of 2020 was already expected to be extremely challenging financially. As a result of this additional significant drop in demand for flights and consequential capacity reduction caused by the novel coronavirus outbreak, the financial results for the first half of 2020 will be significantly down on the same period last year.”
Besides the two-month reduction in global capacity, Lam said the cut may be extended to April “as we continue to monitor and match market demand”.