Cathay Pacific lowers Q4 capacity forecast as travel restrictions linger
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Hong Kong's Cathay Pacific Airways Ltd said on Monday it had lowered its passenger capacity forecast for the remainder of the year to 13% of pre-COVID levels, down from an earlier 30% target for the fourth quarter as travel restrictions linger.
The airline said it continued to target cash burn of less than HK$1 billion ($130 million) a month for the rest of the year.
($1 = 7.7875 Hong Kong dollars)
(Reporting by Jamie Freed in Sydney; Editing by Tom Hogue)
