Cathay Pacific to cut 5,900 jobs, end Cathay Dragon brand due to pandemic

"The future remains highly uncertain and it is clear that recovery is slow, " Cathay said in a statement, citing the International Air Transport Association's expectation it will take until 2024 for passenger traffic to recover to pre-COVID-levels.

SYDNEY: 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.

The restructuring will cost HK$2.2 billion ($283.9 million) and the airline will also seek changes in conditions in its contracts with cabin crew and pilots, it told the stock exchange.