Cathay Pacific to Cut Costs by 20% by 2030 in Efficiency Push

Cathay Pacific Airways Ltd. aims to cut administrative costs by 20% by the end of 2030, according to people familiar with the plan, as the Asian carrier seeks to protect profitability in the face of increased competition and the rise of artificial intelligence.

Chief Executive Officer Ronald Lam informed his leadership group and managers this week about his savings goal tackling costs at the headquarter and back offices over the next half-decade, said the people, who asked not to be identified talking about confidential information.