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Cathay Pacific to cut 6,000 jobs - report

Passenger numbers for Hong Kong's Cathay Pacific Airways were down over 98 percent in September compared with a year earlier.

And things are only looking slightly better for next year.

Cathay expects to operate less than half of its pre-pandemic passenger flight capacity in 2021.

And according to a report in the South China Morning Post on Tuesday (October 20) that means major job losses.

Citing sources close to the matter it says the airline will cut around 6,000 jobs, or 18% of its workforce.

It also reported that the firm will axe regional brand Cathay Dragon to help it weather the coronavirus pandemic.

The airline said in June it was reviewing its strategy in light of the downturn, with "tough decisions" to be announced during the fourth quarter.

Having received a 5 billion dollar rescue package from the Hong Kong government in June, Cathay has been burning through at least $193 million dollars of cash a month.

The South China Morning Post said the airline was expected to announce the job cuts on Wednesday (October 21).

It added that the figure had been reduced from 8,000 layoffs after government intervention.

The newspaper said the airline will sacrifice Cathay Dragon, but staff and resources of the two airlines would be merged.

Cathay has so far refrained from making major job cuts.

But other heavyweights in the region haven't, including Singapore Airlines and Qantas.

Cathay declined to comment on the report.