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Lam told staff the final figure will be confirmed later, but also cited the reduction is partly based on growth in employee numbers, meaning profit needs to be spread across a bigger workforce.
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Murali Ramachandran, President of India & Southeast Asia at Celebi Aviation, said that in the next couple of years, he expects many international carriers to start or expand both passenger and freight operations in India, with the likes of Lion Air, Lufthansa, Cathay Pacific, and American Airlines expected to increase their presence.
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Checks follow aborted flight from Hong Kong to Zurich; airline blames failure of unspecified engine component
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A Korean Air airliner struck an empty Cathay Pacific plane while taxiing at a snow-hit Japanese airport on Tuesday, with both airlines saying there were no injuries.
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By 10:30 a.m., nine of the injured passengers had been discharged from the hospital, the airline said later.
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Hong Kong's Cathay Pacific Airways has dismissed three cabin crew members after a passenger accused them of discriminating against non-English speakers
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In what is often known as the gold standard in aviation rating, the 2021 Skytrax World Airline Awards named Qatar Airways the world’s best airline; Singapore Airlines has the best First Class; Qatar Airways best Business Class; Virgin Atlantic has the best Premium Economy Class while Japan Airlines has the best Economy Class. All Nippon Airways won the Cleanliness Award and Emirates has the best in-flight entertainment.
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According to the Hong Kong government, immigration and quarantine requirements are currently in place for passengers landing in or transiting through Hong Kong, including presenting a negative COVID-19 test result.
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Rakesh Raicar has over 30 years of experience working with Cathay Pacific, the company said in a statement.
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Following Beijing's lead, Hong Kong has maintained some of the world's strictest quarantine measures and travel curbs, which has kept the city coronavirus-free but internationally isolated.
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The move, likely the first such announced by a financial institution in the city, comes as the Asian financial hub's COVID-19 measures, some of the strictest in the world, are said to hurt businesses.
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Like all major airlines, Cathay Pacific has seen its business evaporate during the coronavirus pandemic but the Hong Kong carrier has had an especially torrid year because it has no domestic market to fall back on
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Cathay's management team on Friday met with the leaders of pilot unions at Cathay Pacific and its regional arm Cathay Dragon to brief them on condition of confidentiality ahead of an announcement expected on Tuesday, three sources with knowledge of the matter told Reuters.
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The airline is looking to cut costs, streamline marketing and consolidate pilot contracts around Cathay Pacific and low-cost arm HK Express, the sources said on condition of anonymity.
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The Information Commissioner's Office said in a statement on March 4 that it has ordered Cathay Pacific to pay 500,000 pounds for failing to protect the security of its customers' personal data.
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The request lays bare desperate times at Cathay, which was hammered last year by months of political chaos and protests in Hong Kong and has now been hurt further by the fallout from the virus outbreak.
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The resignation of Slosar, 63, follows the departure of CEO Rupert Hogg last month, after the Chinese aviation regulator increased scrutiny on the airline and its staff members following anti-government protests in Hong Kong.
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In a statement posted on the Hong Kong stock exchange on August 16, Cathay said Hogg had resigned "to take responsibility as a leader of the Company in view of recent events".
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The HK USD 4.93 billion acquisition leaves Cathay Pacific in control of three of the four airlines in Hong Kong, adding to its namesake carrier and regional subsidiary Cathay Dragon.
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Such a deal would give Cathay exposure to the growing budget-travel market at a time when a lack of slots at Hong Kong International Airport has constrained its ability to follow peers like Singapore Airlines Ltd and Qantas Airways Ltd and set up its own budget brand.
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Ever been denied boarding on a plane because your name was spelt wrong on the ticket? Hold my beer, says Cathay Pacific.
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The North fired an intercontinental ballistic missile believed capable of hitting the US mainland last Wednesday.
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The state-owned Gulf carrier said it had acquired a 9.6 per cent stake in Cathay, which would make it the third largest shareholder in the Hong-Kong based airline.
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The company posted its first annual net loss in eight years in March, citing intense competition as lower cost airlines, particularly from mainland China, eat into its market share.
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