Cathay Pacific predicts substantial reductions in passenger flights

Cathay Pacific Airways says it revised down its passenger capacity to 3.5 percent this month and 9.4 percent next month, but the plans are subject to change.

It had planned to increase June passenger capacity to about 5 percent.

Earlier this week, the Swire Pacific-owned airline announced a HK$38.9 billion recapitalization, for which the Hong Kong government is committing HK$29.25 billion. The government will also take a 6.08 percent interest in the airline.

Cathay Pacific Group, Chief Customer and Commercial Officer, Ronald Lam, said the future remains “very uncertain,'' despite some small positive signs, such as the ban on transit traffic through Hong Kong International Airport beginning to ease.

“We will continue to monitor demand and adapt our passenger schedule accordingly, though we expect we will be operating a substantially reduced schedule over the coming months.”

Budget carrier Hong Kong Express, owned by Cathay Pacific, this week extend the suspension of flights until July 11.