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Cathay Pacific is to reduce the number of flights between London and Hong Kong. During May, the Hong Kong flag carrier will operate 17 fewer flights and plans further cuts for June. Currently, there are four daily flights between the cities. Cathay will also reduce the number of flights to Frankfurt, Paris, Sydney and several cities in Asia. According to a report in The Times, the airline will cut the number of seats on offer by 8 per cent.
The newspaper quotes Tony Tyler, Chief Executive of Cathay Pacific, as saying: “We anticipate an extremely challenging year in 2009 and a toxic combination of low fares, a big drop in premium travel, weak cargo loads, poor yields and a negative currency impact is making it more important than ever to preserve cash. "We have no option but to take measures that will help us weather the current storm and maintain the long-term sustainability of the business.”
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