Cathay cited an incident when it carried only 582 customers on one day this week, with a load factor of 18.3 per cent. The airline would normally carry 100,000 a day, representing a drop of 99.4 per cent.
Augustus Tang Kin-wing, the CEO, and Patrick Healy, the chairman, said they would take a 30 per cent pay cut from April through December, while executive directors would take a 25 per cent cut.
“A timeline for a recovery in our customer demand still remains impossible to predict,” Tang said in the memo.
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Source: SCMP and Danny Lee
