Cathay Pacific on Wednesday said profits plunged in 2019 as it reeled from political unrest in Hong Kong, while it warned financial losses lay ahead owing to the spread of the new coronavirus. The carrier was battered throughout the second half of last year as violent pro-democracy protests raged for months in Hong Kong. The demonstrations hammered tourist arrivals into the city, traditionally one of the world's busiest transport hubs. On Wednesday the carrier reported an attributable profit of HK$1.7b (US$220m) for 2019, a significant drop from the HK$2.3b it made in 2018. And it warned of slipping into the red as airlines around the world suffer the huge travel disruptions caused by the rapid global spread of the deadly coronavirus. "We expect to incur a substantial loss for the first half of 2020," chairman Patrick Healy said. "We expect our passenger business to be under severe pressure this year and that our cargo business will continue to face headwinds," he added. The last time the airline made a loss was in the first half of 2018. It then embarked on a major overhaul that brought the carrier back into the black but Cathay has found itself hammered by events beyond its control.<br/>
oneworld
American Airlines has extended the suspension and cancellation of numerous international flights, including to regions that have not yet been severely impacted by the coronavirus, such as Latin America. The Fort-Worth-based airline says on 10 March that it is cutting summer international capacity by about 10% and April domestic capacity by 7.5% in response to decreasing demand. The airline, which reduced service to several destinations in Asia several weeks ago as the crisis began to develop, has now announced its routes from the USA to Montevideo, Uruguay and Santiago, Chile will also be stopped. As of Tuesday, Chile reported 13 cases of coronavirus and Uruguay has none. American will also suspend many of its flights between the USA and Rome and Milan.In addition, non-Italy European destinations Paris and Madrid will also see a reduction in service for parts of May and June. It is also delaying the seasonal resumption of flights from the US to Barcelona and Venice. The airline says that its widebody aircraft will be redeployed on domestic routes. American says it will also introduce new seasonal service between Chicago and Honolulu this summer on a Boeing 787.<br/>
Malaysia Airlines is scaling down Q1 capacity 7.1% amid the coronavirus outbreak, as it halves Chinese operations and makes a double-digit cut to North Asian services. Izham Ismail – CE of the airline’s parent Malaysia Aviation Group – describes the 7.1% reduction as “huge”. He notes the cancellation of “more than 1,600 flights” to date and says he expects the number to rise if the outbreak continues to affect demand for air travel. “Malaysia Aviation Group is not spared from all of this,” says Izham. “Drastic action from all of us needs to be taken. For a start, the senior management team will take a 10% salary cut, including the allowances.” Before facing the challenges posed by the coronavirus crisis, the group had managed to improve its performance in 2019. Revenue climbed 7%, and net income rose despite higher fuel costs, foreign-exchange movements, and the adoption of a new accounting standard on leases.<br/>