Hong Kong’s carrier Cathay Pacific has joined US, European and other Asian airlines in making drastic job cuts as coronavirus-enforced travel restrictions continue to hammer the aviation industry.
Cathay announced on Wednesday it is to shed 8,500 jobs, making 5,900 staff redundant, mostly in Hong Kong. As well as losing over a fifth of its headcount, it will shut one of its regional carriers, Cathay Dragon, with immediate effect as it battles to survive the pandemic.
The airline had a $5 billion bailout in June, with the Hong Kong government contributing $3.52 billion to prevent its collapse. But the International Air Transport Association (IATA), which represents the global airline industry
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Oct 21, 2020