Sunday, April 19, 2009

Cathay Pacific to cut London flights

Cathay Pacific is to cut 17 of its flights between London and Hong Kong during May and plans further cuts during the month of June. The airline currently operates four flights a day between the two cities.

The airline will also reduce flights to Frankfurt, Paris, Sydney and several destinations in Asia. Overall, the airline will cut the number of seats it is offering by 8% against the current schedule.

The airline’s chief executive Tony Tyler said: “We anticipate an extremely challenging year in 2009 and a toxic combination of low fares, a big drop in premium travel, weak cargo loads, poor yields and a negative currency impact is making it more important than ever to preserve cash…We have no option but to take measures that will help us weather the current storm and maintain the long-term sustainability of the business.”