Hong Kong’s Cathay Pacific Airways Ltd. said on Monday it expects to operate less than 50% of its pre-pandemic passenger flight capacity in 2021 as it nears completion of a strategic review that could lead to major job losses.
The airline said it planned to operate around 10% of its pre-pandemic capacity for the remainder of 2020, with most borders remaining closed.
The airline industry has been hard hit by the coronavirus pandemic as many countries imposed travel restrictions to contain its spread. Many of the curbs still remain in place.
“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.
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.
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