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CATHAY Ronald Lam: New HK Express Baggage Policy is Reaction to Customer's Fare Expectations
HK Express, a subsidiary of CATHAY PAC AIR (00293.HK), announced new fare options. Speaking at a shareholders‘ meeting this morning, CATHAY CEO Ronald Lam said HK Express was...
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CATHAY Ronald Lam: New HK Express Baggage Policy is Reaction to Customer's Fare Expectations
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HK Express, a subsidiary of CATHAY PAC AIR (00293.HK)  -0.070 (-0.838%)    Short selling $8.84M; Ratio 8.590%   , announced new fare options. Speaking at a shareholders‘ meeting this morning, CATHAY CEO Ronald Lam said HK Express was a low-cost carrier and would take into account the practices of its Asian counterparts as well as the needs of its customers, and that the new policies were in response to customers’ expectations of what they could expect to pay for a ticket without check-in baggage.

Lam stressed that CATHAY's dual-brand strategy for passenger transport will see the airline expanding into destinations previously unavailable to Hong Kong travellers, with announcements to follow in 2H24. He said airfares had been falling as supply and demand gradually normalised, with price normalisation and lowering expected to continue this year.

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He added that CATHAY's passenger capacity has now returned to 80% of pre-Covid level and noted confidence that the target of full capacity restoration could be achieved in 1Q25.

(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-24 16:25.)

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