Cathay reduced passenger flight capacity by 2-4 per cent versus its original schedule between August and October.Hong Kong’s Cathay Pacific Airways Ltd on Wednesday said the short-term outlook remained “challenging and uncertain” due to anti-government protests in its home market as it lowered its profit guidance for the second time in less than a month.
Hong Kong anti-government protesters on Wednesday paralyzed parts of the Asian financial hub for a third consecutive day, with some transport links, schools and many businesses closing after an escalation of violence.“Overall we foresee a challenging remainder of 2019 for our airlines,” Cathay Chief Customer and Commercial Officer Ronald Lam said in a statement on Wednesday.
Cathay reduced passenger flight capacity by 2-4% versus its original schedule between August and October and made further cuts of 6-7% for November and December, Lam said.
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