Cathay to Cut 6,000 Jobs and Close Dragon Brand, SCMP Says
- Hong Kong-based airline posted $1.3 billion loss in first half
- Pandemic hurt carrier already impacted by Hong Kong protests
Aircraft operated by Cathay Pacific Airways Ltd. and its Cathay Dragon unit stand on the tarmac at Hong Kong International Airport in Hong Kong, on June 9.
Photographer: Roy Liu/BloombergThis article is for subscribers only.
Cathay Pacific Airways Ltd. will cut 6,000 jobs and close its Cathay Dragon brand, the South China Morning Post reported, as part of a strategic review to combat the deep damage caused by the coronavirus pandemic.
The Hong Kong-based airline is expected to officially announce the plan after the market close on Wednesday, the newspaper said. It initially planned about 8,000 layoffs globally, but after government intervention reduced that to 18% of its total workforce, including some 5,000 jobs in Hong Kong, according to the report.