AviationJobs under review as earnings tumble

Cathay on verge of major shake-up

By
|
Cathay on verge of major shake-up

Cathay Pacific Airways will re-evaluate and reassign jobs, part of a strategy to reverse a three-year earnings slide and revive one of Asia’s worst performing airline stocks of 2016.

Cathay Pacific this week is expected to announce a major shake-up of its business to counter growing competition from Chinese carriers.

Cathay Pacific will re-evaluate and reassign jobs, part of a strategy to reverse a three-year earnings slide and revive one of Asia’s worst performing airline stocks of 2016.

Hong Kong’s biggest airline will make “the right long-term decisions” to prepare it and its Cathay Dragon unit for a “challenging and competitive environment ” in 2017, chief operating officer Rupert Hogg told the South China Morning Post.

The Hong Kong airline is under pressure to combat aggressive state-supported mainland carriers, and to position itself against an "open skies" deal signed between China and Australia.

Cathay scrapped its second-half profit forecast in October and announced a review of its business. The December edition of Cathay's staff magazine, seen by Reuters, reported chief executive Ivan Chu would unveil the results on January 18.

Welcome to PARKROYAL COLLECTION Marina Bay, Singapore

Eco-friendly practices and innovations, thoughtfully integrated at PARKROYAL COLLECTION Marina Bay, Singapore, provide sustainable travel experiences for everyone.

Read Now

The Brightest Travel Stars Shine
October - December 2022 eBook

A salute to the top performers across Asia Pacific’s travel industry.

Read Now



JDS Travel News JDS Viewpoints JDS Africa/MI