Cathay Pacific announces measures to cope with global slowdown
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Cathay Pacific Airways has announced a host of fresh measures to help the airline cope with the effects of the global financial crisis, Bernama has reported.
The measures include cutting back on planned passenger capacity growth in 2009, offering cabin and cockpit crew the opportunity to take voluntary unpaid leave, parking two Cathay Pacific freighters, and requesting a deferment on the construction of the Cathay Pacific Cargo Terminal and Hong Kong International Airport.
The airline said it is cutting its earlier projection of 6-7% capacity growth 2009 to less than 1% to reflect the anticipated decline in demand.
Services on some routes will be adjusted accordingly though the airline is clear that it plans to keep its network intact and not cut any destinations, it said in a statement.
The new capacity figure takes into account the airlines decision to remove five Boeing 777-200 aircraft from its fleet and also covers delays in the deliveries of new aircraft as a result of the recent Boeing strike, it said. As a result of the lower passenger load growth, the airline will offer a voluntary unpaid leave scheme for its cabin and cockpit crew, the report added.
Cathay Pacific Chief Executive, Tony Tyler, commented; “This is a very difficult time for our airline and for the aviation industry as a whole. We cannot see the light at the end of the tunnel at this point.”
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