Cathay Pacific to operate less than 50% of capacity in 2021.
Hong Kong’s Cathay Pacific Airways said on Monday it expects to operate less than 50% of its passenger flight capacity in 2021, Reuters reported.
See also: Plan to revive Jet Airways approved.
The airline said it planned to operate around 10% of its capacity for the remainder of 2020, with most borders remaining closed.
“Among the multiple scenarios studied, this one is already the most optimistic that we can responsibly adopt at this moment,” Cathay said in the release of its monthly traffic figures to the stock exchange.
See also: Finnair to sell plane food in supermarkets.
The airline said it assumed it would be operating well below 25% 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.
The South China Morning Post reported on Monday the Cathay board was expected to back a restructuring plan this week that included staff redundancies and pay cuts, citing unnamed sources.
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