Hong Kong's Cathay Pacific Airways Ltd on Wednesday said the short-term out...
FILE PHOTO: Workers service a Cathay Pacific flight at Hong Kong International Airport, China September 3, 2019. Picture taken September 3, 2019. REUTERS/Amr Abdallah Dalsh
The airline said passenger numbers fell 7% in October and it now expected second-half profit to be “significantly below” the first half’s HK$1.347 billion , in a step up from the wording “below” used last month. “Overall we foresee a challenging remainder of 2019 for our airlines,” Cathay Chief Customer and Commercial Officer Ronald Lam said in a statement on Wednesday.
Cathay reduced passenger flight capacity by 2-4% versus its original schedule between August and October and made further cuts of 6-7% for November and December, Lam said.
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