Published: Friday April 17, 2009 MYT 11:40:00 AM
HONG KONG: Cathay Pacific Airways Ltd., Asia's third-largest carrier, has asked staff to take unpaid leave as it planned to cut passenger and cargo capacity, the company said in a statement Friday.
The Hong Kong flagship airline is requesting that its employees across the board take unpaid leave in the next 12 months, according the statement filed to the Hong Kong Stock Exchange.
Cathay Pacific said it would reduce planned passenger capacity by 8 percent and that of its subsidiary Dragonair by 13 percent starting next month.
It also planned to cut cargo capacity by 11 percent.
Turnover derived from passenger and cargo services of both airlines in the first quarter was 22.4 percent lower compared to the same period last year, the company said. - AP