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Cathay Pacific shuns some employment subsidies, raising job cut prospects

SYDNEY, Sept 11 (Reuters) - Hong Kong’s Cathay Pacific Airways Ltd said on Friday it would not apply for further government employment subsidies for its main business units, freeing up its ability to cut jobs at Cathay Pacific and Cathay Dragon.

It has, however, applied for the support for budget carrier HK Express, Air Hong Kong, Cargo Terminal, Hong Kong Airport Service and Cathay Pacific Catering Services, the airline said in a statement.

Cathay, which received a $5 billion rescue package led by the Hong Kong government, has so far refrained from large-scale job cuts but has warned it is reviewing all aspects of its business model with the results expected in the fourth quarter. (Reporting by Jamie Freed; Editing by Jacqueline Wong)

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