Hong Kong’s Cathay Pacific Airways Ltd said it would slash 5,900 jobs and end its regional Cathay Dragon brand, joining peers in cutting costs as it grapples with a plunge in demand due to the coronavirus pandemic.
The airline would also seek changes in conditions in its contracts with cabin crew and pilots as part of a restructuring that would cost HK$2.2 billion ($283.9 million), it told the stock exchange.
Overall, it will cut 8,500 positions, or 24 per cent of its normal headcount, but that includes 2,600 roles currently unfilled due to cost reduction initiatives, Reuters reported.
