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Cathay Pacific cuts 8,500 jobs, closes regional airline due to COVID-19 pandemic – ABC News
The Hong Kong airline is cutting 8,500 jobs and shutting a regional airline as it grapples with the downturn in air travel due to the coronavirus pandemic.
Hong Kong airline Cathay Pacific is cutting 8,500 jobs and shutting a regional airline as it grapples with the downturn in air travel due to the coronavirus pandemic.
Key points:
- Cathay Pacific will cut 24 per cent of its workforce and executive pay cuts will continue throughout 2021
- Its regional airline Cathay Dragon will cease operating from Wednesday
- Cathay Pacific Airways chairman Patrick Healy estimated that passenger levels would only return to pre-pandemic levels in 2024
About 5,300 employees…
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