Cathay Pacific plans 30% staff cost cuts at head office

Tough times ahead: A Cathay Pacific Airways flight attendant poses at the airline’s booth during an aerospace show in Hong Kong. The carrier expects the operating environment in 2017 to remain challenging. — Reuters

Savings will come from changes to middle to senior management

SINGAPORE: Cathay Pacific Airways Ltd has set a target to save 30% in employee costs at its Hong Kong head office as part of the biggest revamp in two decades, amid mounting competition that caused the carrier to post its first annual loss in eight years.