Cathay chief rules out low-cost subsidiary

Cathay Pacific Airways has ruled out launching a low-cost subsidiary to better compete with its rivals. In an interview with the Financial Times, Chief executive John Slosar said Cathay had not lost ground to rivals that had already created budget airlines and that just because they have set up a low-cost airline “doesn’t necessarily mean that they are successful”. “None of the new budget airlines in Asia has run us off any routes. In fact, on a lot of routes we have kept a gain in market share just by increasing capacity.” “The main brand has to learn how to