Cathay Pacific cuts 8,500 jobs, shutters regional airline
4 years, 2 months ago

Cathay Pacific cuts 8,500 jobs, shutters regional airline

The Hindu  

Hong Kong airline Cathay Pacific Airways said Wednesday it would cut 8,500 jobs and shut a regional airline as it grapples with the plunge in air travel due to the coronavirus pandemic. The restructuring is aimed at reducing Cathay Pacific’s cash burn to 500 million Hong Kong dollars a month, from about 1.5 billion Hong Kong dollars to 2 billion Hong Kong dollars currently, Cathay Pacific CEO Augustus Tang said in a statement. Executive pay cuts will also continue throughout 2021 and there will be no pay increments for 2021 nor bonuses for this year for all Hong Kong employees, Cathay Pacific said. In June, Cathay Pacific raised 39 billion Hong Kong dollars in a recapitalization plan that gave the city’s government a stake of about 6 per cent in the airline.

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History of this topic

Cathay flying high on air cargo surge
6 months, 1 week ago

Cathay flying high on air cargo surge

China Daily  

A Cathay cargo plane is seen at Hong Kong International Airport. Hong Kong carrier Cathay Pacific Airways said it will continue to increase cargo capacity of flights connecting the Chinese mainland, Hong Kong and overseas destinations, fueled by continuously growing demand for transporting e-commerce products. The primary driver of its cargo business growth has been transporting e-commerce products from Guangdong …

Once the pride of Hong Kong, Cathay Pacific becomes government’s punchbag
6 months, 2 weeks ago

Once the pride of Hong Kong, Cathay Pacific becomes government’s punchbag

Al Jazeera  

Flag carrier has become a regular target of government criticism as it struggles to recover from the COVID pandemic. After Cathay cancelled more than 700 flights scheduled between December and February, Hong Kong Chief Executive John Lee Ka-chiu told local reporters he was “very concerned” and wanted local aviation to “rebuild its capacity fast”. In an article the following month, …

Morgan Stanley to slash 13% investment banking jobs in Hong Kong and China, biggest cut in Asia-Pacific region in years
8 months, 3 weeks ago

Morgan Stanley to slash 13% investment banking jobs in Hong Kong and China, biggest cut in Asia-Pacific region in years

Live Mint  

Morgan Stanley plans to start cutting about 50 investment-banking jobs in the Asia-Pacific region this week, with at least 80% of the reductions in Hong Kong and China, people familiar with the matter said. Morgan Stanley reported Tuesday that net revenue from Asia fell 12% to $1.74 billion in the first quarter from a year earlier, even as its global …

Hong Kong to reopen Cathay’s in-town airport check-in after more than 3 years of Covid lockdown
1 year, 6 months ago

Hong Kong to reopen Cathay’s in-town airport check-in after more than 3 years of Covid lockdown

Hindustan Times  

Cathay Pacific Airways Ltd.’s check-in desks in Hong Kong’s central business district will reopen Wednesday, after a more than three-year shutdown sparked by Covid. A signage for Cathay Pacific Airways at the departures hall of Hong Kong International Airport in Hong Kong. Cathay will be the sole airline offering in-town check-in services, and only from 6 am to 3 pm, …

Cathay cabin crew to add mainland employees
1 year, 6 months ago

Cathay cabin crew to add mainland employees

China Daily  

A cargo aircraft operated by Cathay Pacific takes off from Hong Kong International Airport in Hong Kong, June 9, 2020. Hong Kong flag carrier Cathay Pacific Airways on Monday announced a raft of measures to improve its service after a discrimination scandal, including recruiting staff from the Chinese mainland and increasing the number of Mandarin-speaking flight attendants. As the number …

Cathay Pacific Fires Crew Members Over Viral Clip Alleging Discrimination Against Non-English Speakers
1 year, 7 months ago

Cathay Pacific Fires Crew Members Over Viral Clip Alleging Discrimination Against Non-English Speakers

News 18  

Hong Kong-based airline Cathay Pacific has terminated the employment of three cabin crew members following an accusation via viral video post on social media made by a passenger regarding discriminatory behaviour towards non-English speakers, triggering anger in China. The dismissal occurred following a complaint made by a passenger through an online post, alleging that certain cabin crew members displayed disrespect …

Cathay Pacific losses narrow as COVID-19 restrictions ease
2 years, 4 months ago

Cathay Pacific losses narrow as COVID-19 restrictions ease

Associated Press  

HONG KONG — Hong Kong airline Cathay Pacific Airways said Wednesday that losses in the first half of the year narrowed as a relaxation in quarantine rules boosted passenger numbers. The company reported losses of about $5 billion Hong Kong dollars in the first six months, down from 7.57 billion Hong Kong dollars in the same period last year. Cathay’s …

Cathay Pacific operating at 2 per cent of normal capacity as Hong Kong remains sealed off
2 years, 9 months ago

Cathay Pacific operating at 2 per cent of normal capacity as Hong Kong remains sealed off

The Independent  

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Hong Kong’s flagship airline Cathay Pacific is operating at just 2 per cent of its normal …

‘Huge safety issue’: Hong Kong pilots’ warning over COVID rules
3 years ago

‘Huge safety issue’: Hong Kong pilots’ warning over COVID rules

Al Jazeera  

Hong Kong’s “zero COVID” policies are making working conditions so unbearable for aircrew that they pose a potential safety risk, pilots who have worked in the aviation hub have warned. “I do believe it’s a safety problem, and it’s a big safety problem,” a former pilot with Hong Kong’s flagship carrier Cathay Pacific told Al Jazeera. Our Flight Crew People …

Cathay Pacific airline fires three pilots with Covid-19 for ‘serious breach’
3 years, 1 month ago

Cathay Pacific airline fires three pilots with Covid-19 for ‘serious breach’

CNN  

CNN Business — Cathay Pacific has fired three pilots after they were infected with coronavirus in the German city of Frankfurt. The Hong Kong airline said in a statement that an internal investigation had found that the pilots were involved in a “serious breach” of Covid-19 procedures during “overseas layovers.” Other Cathay staff who have stayed at the same hotel …

Early tickets for Hong Kong-Singapore travel bubble sold out
3 years, 8 months ago

Early tickets for Hong Kong-Singapore travel bubble sold out

Hindustan Times  

Flights for the initial phase of the Hong Kong-Singapore travel bubble have all but sold out in both directions, according to the websites of Cathay Pacific Airways Ltd. and Singapore Airlines Ltd. An economy-class Singapore Airlines ticket for a flight leaving on June 16 and returning from Hong Kong on June 18, for example, was available for $466. An economy-class …

Cathay Pacific to cut thousands of jobs and eliminate Cathay Dragon airline as Covid-19 weighs on travel
4 years, 2 months ago

Cathay Pacific to cut thousands of jobs and eliminate Cathay Dragon airline as Covid-19 weighs on travel

CNN  

Hong Kong CNN Business — Cathay Pacific is eliminating thousands of jobs and shuttering its regional airline Cathay Dragon as the Covid-19 pandemic roils the global travel industry. “We have taken every possible action to avoid job losses up to this point,” said Cathay Pacific Group CEO Augustus Tang in a statement. Even so, Tang said the company continues to …

Hong Kong takes stake in Cathay Pacific as part of $5 billion bailout
4 years, 7 months ago

Hong Kong takes stake in Cathay Pacific as part of $5 billion bailout

CNN  

Hong Kong CNN Business — The Hong Kong government has agreed to lead a $5 billion bailout of Cathay Pacific, taking a minority stake in the city’s beleaguered flagship carrier. Cathay and parent company Swire Pacific announced plans to raise 39 billion Hong Kong dollars in new capital on Tuesday to help the airline survive the crisis wrought by the …

United Airlines to close cabin crew bases in Hong Kong
4 years, 7 months ago

United Airlines to close cabin crew bases in Hong Kong

India TV News  

United Airlines will close its cabin crew bases in Hong Kong, as well as Tokyo and Frankfurt, eliminating a total of 840 jobs, as the COVID-19 pandemic continues to wreak havoc on international air travel, the Chicago-headquartered carrier announced. In a statement on Friday, the airline told its employees of the "difficult decision", with the Hong Kong base hit hardest …

Coronavirus Outbreak: Cathay Pacific to close US cabin crew bases, lay off 286 staff as global travel comes to halt
4 years, 8 months ago

Coronavirus Outbreak: Cathay Pacific to close US cabin crew bases, lay off 286 staff as global travel comes to halt

Firstpost  

Cathay Pacific has grounded most of its planes because of the fall in demand, flying only a skeleton network to major destinations Sydney: Hong Kong’s Cathay Pacific Airways Ltd will close its three cabin crew bases in the United States, the airline said on Friday, laying off 286 staff as the coronavirus pandemic has virtually halted global travel. The carrier …

Cathay Pacific slashes more flights over Covid-19 after flying just 582 people in one day
4 years, 9 months ago

Cathay Pacific slashes more flights over Covid-19 after flying just 582 people in one day

CNN  

Hong Kong CNN Business — Cathay Pacific is used to carrying about 100,000 daily passengers. The is the grim reality Hong Kong’s flagship airline is facing as the novel coronavirus pandemic worsens, darkening the outlook for the global travel industry and “intensifying” financial ramifications for businesses like Cathay, CEO Augustus Tang said Friday. It also made similar cuts to Cathay …

Cathay Pacific slashes almost all passenger flights over the coronavirus pandemic
4 years, 9 months ago

Cathay Pacific slashes almost all passenger flights over the coronavirus pandemic

CNN  

Hong Kong CNN Business — Cathay Pacific is canceling almost all passenger flights for two months as the novel coronavirus outbreak continues to decimate global demand for travel. Hong Kong’s flagship carrier announced Friday that it would reduce passenger flight capacity by 96% in April and May, saying it would start operating on a “bare skeleton” basis. The decision was …

Cathay Pacific 2019 profit drops, loss looms on coronavirus
4 years, 9 months ago

Cathay Pacific 2019 profit drops, loss looms on coronavirus

CNN  

Hong Kong CNN Business — Cathay Pacific had a brutal second half of last year — and its troubles are getting worse as the coronavirus pandemic slashes demand for flights. The last six months of 2019 wiped away what the company described as a strong start to the year as the airline was hit by fallout from the Hong Kong …

Virus to drag Cathay Pacific into losses for first half of 2020
4 years, 9 months ago

Virus to drag Cathay Pacific into losses for first half of 2020

Al Jazeera  

The Hong Kong airline, which saw profits drop 28 percent in 2019, also expects to cut more capacity due to the virus. Hong Kong‘s Cathay Pacific Airways said on Wednesday it expects to report a substantial loss in the first half of this year and slash more capacity as the coronavirus outbreak erodes travel demand, after posting a drop in …

Cathay Pacific asks employees to take 3 weeks off without pay amid coronavirus outbreak
4 years, 11 months ago

Cathay Pacific asks employees to take 3 weeks off without pay amid coronavirus outbreak

CNN  

London CNN Business — Cathay Pacific is asking its 27,000 employees to take three weeks of unpaid leave in the coming months, the latest in a series of emergency measures forced on the embattled Hong Kong carrier by the coronavirus outbreak in China. The airline said in a statement Wednesday that it was appealing to all workers to take three …

Cathay employee fired over Hong Kong protests wants her job back
5 years, 4 months ago

Cathay employee fired over Hong Kong protests wants her job back

CNN  

Hong Kong CNN Business — Hong Kong’s top airline can’t escape the city’s political crisis. The Hong Kong Confederation of Trade Unions, a major local labor organization, called on Cathay Pacific on Friday to “respect the freedom of speech of employees.” The remarks followed the firing of one of its affiliate union’s leaders, a flight attendant for the airline’s regional …

Hong Kong unions urge Cathay Pacific to end staff intimidation
5 years, 4 months ago

Hong Kong unions urge Cathay Pacific to end staff intimidation

Al Jazeera  

Cathay Pacific Airways, which is caught in the crosswinds between authorities in Beijing and anti-government protesters in Hong Kong, must put an end to “all forms of white terror”, trade unions in the Chinese-ruled city said on Friday. The Hong Kong Confederation of Trade Unions called a news conference after the sudden dismissal of Rebecca Sy, the head of Cathay …

Cathay Pacific CEO resigns amid Hong Kong protests
5 years, 4 months ago

Cathay Pacific CEO resigns amid Hong Kong protests

CNN  

Hong Kong CNN Business — Cathay Pacific CEO Rupert Hoggis resigningafter a tumultuous week for Hong Kong’s leading airline. “Recent events have called into question Cathay Pacific’s commitment to flight safety and security and put our reputation and brand under pressure,” said Cathay Chairman John Slosar in a statement. China said last week that it would not allow Cathay flights …

Cathay Pacific: The week Hong Kong’s top airline bowed to China
5 years, 4 months ago

Cathay Pacific: The week Hong Kong’s top airline bowed to China

CNN  

Hong Kong CNN Business — One of the world’s top airlines has discovered just how dangerous Hong Kong’s pro-democracy protests are becoming for companies based in the city and doing business with mainland China. It’s not ‘Hong Kong, China.’ It’s China.” A tumultuous two weeks The political turmoil started months ago when Hong Kong residents began protesting a controversial bill …

All flights connecting India with Hong Kong till Aug 16 operating normally: Cathay Pacific
5 years, 4 months ago

All flights connecting India with Hong Kong till Aug 16 operating normally: Cathay Pacific

India TV News  

Cathay Pacific on Thursday said all its flights that connect India with Hong Kong are operating as per schedule on August 15 and August 16. "For the India market, we would like to share that, at present, all flights from Mumbai, New Delhi, Bengaluru, Chennai, Hyderabad and Kolkata to Hong Kong and return are operating as per schedule for 15 …

Cathay Pacific caught in crossfire between Hong Kong and Beijing, emerges as a target after workforce voices support for protests
5 years, 4 months ago

Cathay Pacific caught in crossfire between Hong Kong and Beijing, emerges as a target after workforce voices support for protests

Firstpost  

Cathay Pacific has flown into a storm of controversy generated by the Hong Kong protests that has left it trying to appease an angry Beijing while not alienating its home market. Hong Kong, China: Cathay Pacific has flown into a storm of controversy generated by the Hong Kong protests that has left it trying to appease an angry Beijing while …

Cathay Pacific says it could fire staff who support Hong Kong protests
5 years, 4 months ago

Cathay Pacific says it could fire staff who support Hong Kong protests

CNN  

Hong Kong CNN Business — Cathay Pacific on Monday warned its staff that those who “support or participate in illegal protests” in Hong Kong could be fired. The city’s largest airline outlined its “zero tolerance” approach in a memo sent days after Chinese authorities took steps to prevent Cathay workers who participate in protests from flying to mainland China or …

Cathay Pacific shares plunge after China warning on protests
5 years, 4 months ago

Cathay Pacific shares plunge after China warning on protests

Al Jazeera  

Cathay appears to have become a target of Beijing’s ire after some of its crew joined pro-democracy protests. Shares in Hong Kong’s flagship carrier Cathay Pacific plunged more than four percent on Monday, after Beijing banned airline staff supporting Hong Kong protesters from flights going through the mainland. Cathay shares lost 4.37 percent to HK dollars 9.85 by the break …

Cathay Pacific Hong Kong flights canceled due to strikes
5 years, 5 months ago

Cathay Pacific Hong Kong flights canceled due to strikes

CNN  

Hong Kong CNN Business — Mass demonstrations and strikes in Hong Kong forced its biggest airline, Cathay Pacific, to cancel more than 150 flights on Monday and urge passengers to postpone non-essential travel. It flies about34 million passengers every year and serves nearly 200 cities around the world from its hub at Hong Kong’s international airport. Cathay Pacific canceled more …

Cathay Pacific in talks to buy stake in HK Express Airways
5 years, 10 months ago

Cathay Pacific in talks to buy stake in HK Express Airways

Live Mint  

Hong Kong/Singapore: Hong Kong flagship carrier Cathay Pacific Airways Ltd said on Tuesday it is in “active discussions” about an acquisition involving budget airline Hong Kong Express Airways Ltd, although an agreement has yet to be reached. Such a deal would give Cathay exposure to the growing budget-travel market at a time when a lack of slots at Hong Kong …

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