20-Apr-2009 8:15 AM
Cathay Pacific hit by "severe business downturn"
Analysis
This hasn't been a good week for three of the region's leading network airlines. Qantas first on Tuesday announced 1,750 job cuts, Singapore Airlines yesterday stated it was removing 17% of its fleet capacity starting this month and has reduced its Summer 2009 schedule. And today Cathay announced it will reduce passenger capacity by 8% and overall cargo capacity by 11% from May-2009.
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