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As of on the Hong Kong Stock Exchange ∙ Minimum 15 minute delay
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Cathay Pacific Chairman Says Delivery Of Boeing 777-9 Fleet Postponed Beyond 2025
Cathay Pacific Says Cathay Dragon Brand Closure Will Impact Freight Services To Fuzhou, Guangzhou, Kuala Lumpur, Fukuoka In Short Term - Memo To Cargo Customers
Cathay Pacific Says About 8,500 Positions To Be Eliminated
Cathay Pacific Airways Ltd is a company mainly engaged in the provision of international passenger and cargo air transportation. Together with its subsidiaries, the Company operates business through its four operating segments. The Cathay Pacific and Cathay Dragon segment provides full service international passenger and cargo air transportation under the Cathay Pacific and Cathay Dragon brands. The Air Hong Kong segment provides express cargo air transportation offering scheduled services within Asia. The HK Express segment provides a low-cost passenger air transportation offering scheduled services within Asia. The Airline Services segment provides supporting airline operations services include catering, cargo terminal operations, ground handling services and commercial laundry operations.
One Pacific Place, 88 Queensway
Executive Chairman of the Board
Kin Wing Tang
Chief Executive Officer, Executive Director
Non-Executive Deputy Chairman of the Board
Chief Financial Officer, Executive Director
Koon Ying Chow
General Counsel, Company Secretary
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* Cathay seeking changes as part of $284 mln restructuring plan
* Share price rises as overhang lifted - Jefferies (Adds details of job losses at Cathay Dragon, updates shares)
Hong Kong's Cathay Pacific Airways Ltd said on Wednesday it would cut 5,900 jobs and end its regional Cathay Dragon brand as it grapples with a plunge in demand from the coronavirus pandemic.
* Airline has been reviewing its strategy due to travel downturn
Hong Kong's Cathay Pacific Airways Ltd will cut around 6,000 jobs or 18% of its workforce, and axe regional brand Cathay Dragon to help it weather the coronavirus pandemic, the South China Morning Post reported on Tuesday, citing sources.
* Capacity could recover in H2 2021 if vaccine widely adopted
Hong Kong's Cathay Pacific Airways Ltd said on Monday it expects to operate less than 50% of its pre-pandemic passenger flight capacity in 2021 as it nears completion of a strategic review that could lead to major job losses.
* Pilot union wants to be involved in talks about restructure
Pilots at Hong Kong's Cathay Pacific Airways Ltd are pushing to be included in restructuring talks at the carrier and will run a newspaper advertisement to drum up public support, a union representing them told Reuters on Tuesday.
* Will be possible to cut more jobs at Cathay Pacific, Dragon
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.
* Shares close 12% higher, still down 41% YTD (Adds comments from chairman, CEO; updates shares to close)
Hong Kong's Cathay Pacific Airways Ltd on Wednesday reported a record HK$9.87 billion ($1.27 billion) first-half loss and said it did not expect a meaningful recovery in passenger demand for some time due to the coronavirus pandemic.
Cathay Pacific Airways Ltd said it will offer a voluntary scheme to its Hong Kong-based pilots who are approaching retirement age to leave the group early, in a continued effort to cut costs amid the coronavirus pandemic.
* Expects full-year results to be "materially worse" than past (Adds Airbus, Boeing response in paragraph 5)
Hong Kong's Cathay Pacific Airways Ltd said on Wednesday it had reached agreement with Airbus SE to delay the delivery of A350s and A321neos and was in advanced talks with Boeing Co about deferring its 777-9 orders.
* Plans to operate 7% of normal schedule in July, 10% in August
* Affected cabin crew in New York, Los Angeles and San Francisco
* Cargo revenues tracking below last year due to passenger cuts
Hong Kong's Cathay Pacific Airways Ltd will make further cuts to passenger capacity due to extremely low demand for flights, leaving it with just two flights a week each to four destinations in April, according to an internal memo.
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.