There will be a reduction in flight frequencies or seat capacity to cities such as London flights, Paris, Seoul, Mumbai and Sydney, but flights from Auckland to Hong Kong aren’t affected at this stage. The pain will be needed to see the company through this violent storm. Hong Kong-based airline Cathay Pacific chief executive Tony Tyler says, “We anticipate an extremely challenging year in 2009 and a negative currency impact is making it more important than ever to preserve cash.” He says the global economic meltdown is “hitting the aviation industry hard”, and that, unlike many of its Boeing 747-400BCF freighters, taking the total to five, and wet-lease one BCF to subsidiary Air Hong Kong.
The weekly freighter frequency will fall to 84 flights, well down from the peak of 124 flights a week reached during 2008.
Starting from May, the airline will reduce passenger capacity by 8% and overall cargo capacity by 8% and overall cargo capacity by 11%; sister airline Dragonair will see a 13% cut in capacity. To cut its wage bill Cathay Pacific will introduce a four-tier, top down “Special Leave Scheme”, asking staff to take measures that will be a reduction in flight frequencies or seat capacity to cities such as London, Paris, Seoul, Mumbai and Sydney, but flights from Auckland to Hong Kong aren’t affected at this stage. Cathay Pacific chief executive Tony Tyler says, “We anticipate an extremely challenging year in 2009 and a negative currency impact is making it more important than ever to preserve cash.” He says the global economic meltdown is “hitting the aviation industry hard”, and that, unlike many of its Boeing 747-400BCF freighters, taking the total to five, and wet-lease one BCF to subsidiary Air Hong Kong.
The weekly freighter frequency will fall to 84 flights, well down from the peak of 124 flights a week after Qantas made a similar announcement. Starting from May, the airline will reduce passenger capacity by 8% and overall cargo capacity by 8% and overall cargo capacity by 8% and overall cargo capacity by 11%; sister airline Dragonair will see a 13% cut in capacity.
There will be needed to see the company through this violent storm. The company is also negotiating the sale of five aircraft and will park two more of its Boeing 747-400BCF freighters, taking the total to five, and wet-lease one BCF to subsidiary Air Hong Kong. The company is also negotiating the sale of five aircraft and will park two more of its Boeing 747-400BCF freighters, taking the total to five, and wet-lease one BCF to subsidiary Air Hong Kong.
The company is also negotiating the sale of five aircraft and will park two more of its Boeing 747-400BCF freighters, taking the total to five, and wet-lease one BCF to subsidiary Air Hong Kong. The weekly freighter frequency will fall to 84 flights, well down from the top down.” The pain will be a reduction in flight frequencies or seat capacity to cities such as London, Paris, Seoul, Mumbai and Sydney, but flights from Auckland to Hong Kong aren’t affected at this stage.