I'm no expert on running an airline, but would they really want to deliberately scare the s*#% out of their investors by continually making statements about our financial situation if it wasn't really bad? Would they do that just to try to cut our T&C
Oh yes...it has been done before. Some silly Director tried that once before on the staff, but his scare tactics reached the media and shareholders. Said Director was then forced to make a retraction and explain that the memo was meant only for staff consumption and had no basis in fact.
Deadly virus may force Cathay to ground entire fleet - Business Analysis & Features, Business - The Independent
CNN.com - Cathay: No plans to ground fleet - Apr. 15, 2003