SYDNEY - Hong Kong's Cathay Pacific Airways said on Monday it expects to operate less than 50 per cent of its pre-pandemic passenger flight capacity in 2021 as it nears completion of a strategic review that could lead to major job losses.
The airline industry has been hard hit by the coronavirus pandemic as many countries imposed travel restrictions to contain its spread. Many of the curbs still remain in place. The airline said it assumed it would be operating well below 25 per cent of pre-pandemic capacity in the first half of 2021 but that there would be a recovery in the second half if vaccines currently under development proved effective and are widely adopted in its key markets by the middle of 2021.
Cathay had in June said it was reviewing its strategy in light of the travel downturn, with"tough decisions" to be announced during the fourth quarter.
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