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Cathay Pacific slashes passenger service to 'skeleton schedule'

Analyst warns of liquidity squeeze on Hong Kong airline group

Cathay Pacific is parking most of its passenger planes as the pandemic outbreak pummels demand.   © Reuters

TOKYO/HONG KONG -- Cathay Pacific Airways will halt all but a fraction of its passenger services as travel restrictions and vanishing demand due to the coronavirus pandemic further pressure Hong Kong's flagship carrier.

The company said Friday that it would cut capacity on its full-service passenger flights, operated under its Cathay Pacific and Cathay Dragon brands, by 96% during April and May. Hong Kong Express, the company's budget subsidiary, will halt all flights from March 23 until the end of April, expanding on a previous 86% capacity cut for March.

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