November 29, 2019 / 7:18 AM / 8 days ago

Cathay Pacific to cut 2020 capacity by 1.4% -memo

SYDNEY, Nov 29 (Reuters) - Hong Kong carrier Cathay Pacific Airways Ltd plans to cut capacity by 1.4% next year, reversing an earlier plan for a boost of 3.1%, because of a challenging business outlook, an internal memo seen by Reuters showed.

“Put another way, rather than growing our airline in 2020, for the first time in a long time, our airline will reduce in size,” it said in the memo.

A Cathay representative said it had no comment. (Reporting by Jamie Freed in Sydney; Editing by Clarence Fernandez)

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