HONG KONG: Leading Asian airline Cathay Pacific has been dealt a devastating blow by the Severe Acute Respiratory Syndrome (SARS) crisis, but analysts believe it will survive, despite massive cutbacks and a deeply shaken corporate psyche.
As demand for tickets to and from Cathay's base here has collapsed, the airline has cut more than 40% of daily flights. The airline said passenger numbers were down one third from last year, although media reports put the figure as high as 80%.
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