Cathay Pacific parks 92 jets at desert as it posts USD 2.79b loss

Dhaka: Cathay Pacific has sent 92 jets, or 44 percent of aircraft it has in passenger fleet, into long-term storage at locations in Australia and Spain, said the Hong Kong-based airline’s Group Chairman Patrick Healy in a statement.

Healy made the announcement while he delivered a 2020 calendar year loss of USD 2.79 billion.

The jets have been sent to long-term storage facilities in Ciudad Real, Spain, and Alice Springs, Australia. Healy said that Cathay Pacific expects to operate at 25 percent of its 2019 capacity in the first six months of 2021.

He hoped things will improve later this year. Meanwhile, nearly half of Cathay Pacific’s fleet sits idle.

Cathay Pacific began relocating its planes over the August – September 2020 period. While the travel plunge following the coronavirus pandemic has carriers like Cathay Pacific struggling, it is proving to be beneficial for airports with lots of spare space and the right climate to park planes.

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