Cathay Pacific Joins Aviation Jobs Cull, Closes Regional Carrier
- Total reductions of 8,500 equate to around 24% of headcount
- Airline expects to operate well under 50% of capacity in 2021
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Hong Kong’s Cathay Pacific Airways Ltd. will slash more than 5,000 jobs and close a regional carrier, the latest airline to enact a sweeping restructuring as the virus’s resurgence in the U.S. and Europe and the lack of a vaccine underscore the ongoing uncertainty in global aviation.
Another 600 Cathay workers outside of Hong Kong may be affected, and 2,600 unfilled positions will be eliminated. The entire reduction of some 8,500 positions amounts to about 24% of Cathay’s headcount, one of the largest hits in the aviation sector globally since the outbreak started.