Association of Asia Pacific Airlines says region’s carriers face shortfalls of more than US$60 bil this year. FMTNews Virus
HONG KONG: Cathay Pacific Airways Ltd will slash passenger capacity by 96% in April and May as the coronavirus shuts down travel across the world.
The virus has floored Cathay, which was already reeling from the impact pro-democracy protests in Hong Kong had on visitor numbers for much of last year. On some days in February, Cathay flight bookings fell to as low as 11,000-12,000 from the standard 90,000, Lam said earlier this month. Cathay’s share price was up 1.2% at 2:26pm in Hong Kong on Friday, heading for its first gain since March 11. The stock has fallen 28% this year, hitting its lowest since April 2009 on Thursday.
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