HONG KONG: Cathay Pacific Airways announced the creation of a lifestyle brand on Monday (July 5) to provide hospitality and shopping incentives as the airline explores new revenue streams amid a drop in travel demand. The airline’s “Cathay” brand would allow users to purchase services and goods through the airline exclusively in Hong Kong at initially, with plans to expand globally later, according to the firm, which also announced the launch of a credit card to go along with it.
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Cathay’s approach comes after AirAsia revealed intentions to develop air taxi and drone delivery services in March, while Singapore Airlines entered the restaurant sector last year.
Cathay Pacific, like its industry counterparts, has been heavily struck by the COVID-19 epidemic, with the Hong Kong flag carrier operating at only 8% of normal passenger capacity and forecasting “significant” losses for the third consecutive half.
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