The Cathay Pacific Group is shutting down its regional subsidiary Cathay Dragon and cutting 5,900 jobs as part of its latest efforts to address the ongoing impact of the coronavirus crisis.
The Hong Kong-based airline group says the restructuring will allow it to “secure its future”. The announcement comes just a few days after the airline group revealed that it expects to operate under half of its overall pre-Covid-19 capacity in 2021.“The global pandemic continues to have a devastating impact on aviation and the hard truth is we must fundamentally restructure the Group to survive,” said Cathay Pacific CEO Augustus Tang.
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