HONG KONG -- Hong Kong's South China Morning Post's Danny Lee reports, that Cathay Pacific Group has 120 planes sitting on the tarmac at any given time, accounting for about half of its fleet, and has scrapped more than three-quarters of its weekly flights in March.
Sources familiar with the situation said the number of planes left on the ground was likely to rise as Cathay warned of further cuts in flight schedules.
Measures adopted by other airlines also include storing, selling planes or delaying deliveries of new jets, putting staff on unpaid leave or cutting, freezing jobs plus seeking cuts in discretionary spending and non-critical projects, and putting the squeeze on suppliers.
Measures adopted by other airlines also include storing, selling planes or delaying deliveries of new jets, putting staff on unpaid leave or cutting, freezing jobs plus seeking cuts in discretionary spending and non-critical projects, and putting the squeeze on suppliers.
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