Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Companies

Cathay Pacific to cut 8,500 jobs, end Cathay Dragon brand

By China Daily and Agencies | chinadaily.com.cn | Updated: 2020-10-21 18:48
Share
Share - WeChat
A Cathay Dragon passenger plane makes its descent before landing at Hong Kong's international airport on Aug 16, 2017. [Photo/Agencies]

The restructuring will stem the cash burn by HK$500 million a month in 2021, the airline said, adding executive pay cuts would continue throughout next year.

The Cathay chief executive had warned in a September interview with China Daily that a net cash outflow will continue in the short term even after the restructuring has been completed.

"The cash burn will continue to be significant until the number of passengers returns to a certain level," Tang said in the interview, adding that he didn't have a target for the passenger numbers.

The decision to end regional brand Cathay Dragon is in line with rival Singapore Airlines Ltd's pre-pandemic move to fold regional brand Silkair into its main brand.

In the short-term, the closure of the Cathay Dragon brand will result in it being unable to carry cargo to Fuzhou, Guangzhou, Kuala Lumpur and Fukuoka, and it will only send dedicated freighters to Xiamen, Chengdu and Hanoi, it told cargo customers in a memo, indicating the routes were cut for now.

Cathay Dragon, once known as Dragonair, operated most of the group's flights to and from the Chinese mainland and had been hit by falling demand before the pandemic due to widespread anti-government protests in Hong Kong.

Cathay shares, which have fallen 41 percent since the start of January, jumped as much as 6.6 percent in early trade Wednesday before closing up 2.3 percent.

The airline's share register is dominated by Swire Pacific Ltd, Air China Ltd, Qatar Airways and the Hong Kong government, with only a 12 percent free float.

Luo Weiteng contributed to this report

|<< Previous 1 2 3   
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 天堂www网最新版资源官网| 久久天天躁狠狠躁夜夜躁2020 | 国产成人久久777777| 四虎国产精品永久在线| 午夜无码国产理论在线| 国产一级做美女做受视频| 国产亚洲第一页| 免费a级试看片| 亚洲av永久无码一区二区三区 | 制服丝袜中文字幕在线观看| 人妻丰满熟妇av无码区| 亚洲av无码专区在线厂| 东北美女野外bbwbbw免费| 4480新视觉yy理论片| 野花日本中文版免费观看| 男女一进一出抽搐免费视频| 欧洲美女与动性zozozo| 性高湖久久久久久久久| 国产精品自产拍2021在线观看| 国产在线a免费观看| 亚洲色无码一区二区三区| 久久国产精品久久精| Av鲁丝一区鲁丝二区鲁丝三区| 国产精品jizz在线观看直播| 番肉动漫无修在线观看网站| 日韩美视频网站| 夜先锋av资源网站| 国产一区二区三区不卡在线观看| 亚洲欧美一区二区三区| 中文字幕成人网| 亚洲成熟人网站| 狠狠色噜噜狠狠狠狠97| 日本xxx片免费高清在线| 国产精品永久在线观看| 全彩调教侵犯h本子全彩网站mj| 亚洲AV无码一区二区三区在线| 久久久精品免费| www.av片| 91精品国产一区二区三区左线| 色吧亚洲欧美另类| 黄色欧美视频在线观看|