Cathay Pacific and Virgin Blue jump on cuts – SHARE WRAP

These days, investors are cheered by airline moves to cut back – whether routes, fleets or staff numbers – as the path back to profits for most involves getting smaller. Cathay Pacific’s shares rose 5.8% yesterday on news the group is cutting capacity to Malaysia. Virgin Blue's shares rose 1.7% on confirmation V Australia would defer the delivery of its fifth and sixth B777s from 2010 to 2011/12.