On the heels of a HK$8.56 billion ($1.1 billion) 2008 loss that represented its first full-year deficit in a decade, Cathay Pacific Airways said Friday that it will confront a "toxic combination" of challenges with measures including an 8% capacity cut beginning next month and unpaid leave for employees. "We anticipate an extremely challenging year in 2009 and a toxic combination of low fares, a big drop in premium travel, weak cargo loads, poor yields and a negative currency impact is ...

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