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Saturday, February 24, 2024

Cathay Pacific to close Cathay Dragon subsidiary, slash workforce

Cathay Dragon, a subsidiary that primarily flies shorter haul flights within Asia, will cease operations.

HONG KONG: Cathay Pacific is to slash up to 5,900 jobs and shutter its Cathay Dragon subsidiary, the Hong Kong carrier said Wednesday, joining a growing list of airlines making swingeing cuts as they reel from the coronavirus pandemic.

Across the globe, airlines have been hammered by the pandemic slashing international travel and they face a long, hard winter after a much-hoped-for rebound from the crisis failed to materialise.

On Wednesday, Cathay published a corporate restructuring plan that will lead to thousands of job losses and one of its airlines to disappear completely.

Bosses said 5,300 jobs would go among the airline’s Hong Kong-based employees with a further 600 losses overseas — the…

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