Cathay to cut global capacity by 30% amid coronavirus epidemic

Sydney (Reuters): Hong Kong’s Cathay Pacific Airways Ltd. 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 August Tang said in a memo to staff seen by Reuters. The South China Morning Post first reported the planned capacity cuts.