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Cathay Pacific reportedly closing down Cathay Dragon brand
Hong Kong’s Cathay Pacific Airways is planning drastic cost-cutting which will see up to 6,000 jobs lost.
The group will also reportedly axe the Cathay Dragon airline brand and merge it into the main business, the South China Morning Post reports.
About 5,000 job losses will be in Hong Kong, although it is less than previously expected.
It had earlier said up to 8,000 positions could go.
It could confirm the news on 21 October.
"It’s unnecessary to keep the two brands given the dire financial situation, but Cathay will not give up flying to mainland destinations," a source was quoted as saying.
Cathay Pacific Group current has 33,000 staff globally.
The two airline brands have a combined fleet of 180 aircraft.
The group posted a record HK$9.87 billion (US$1.27 billion) loss in the first six months of the year.
Written by Ray Montgomery, Asia Editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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