Cathay Pacific to cut global capacity by 30% amid coronavirus epidemic

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SYDNEY (Reuters) – Hong Kong’s Cathay Pacific Airways Ltd (HK:) 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 coronovirus 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.

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