Restructure or Die, Cathay Warns as it Burns Through Millions a Month
- Strategic review recommendations to be presented next quarter
- Airline is churning through as much as HK$2 billion a month
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Cathay Pacific Airways Ltd. is still burning through as much as HK$2 billion ($258 million) a month and will continue to do so until the market recovers from the coronavirus crisis, the company said Monday as it reported dismal August traffic figures and reiterated the need to restructure.