Hong Kong April 23,2021/ Scudrunners News/ The South China Morning Post reported that Cathay Pacific will shut their Canadian Pilot bases and has proposed the same for their Australian and New Zealand bases.
Previously Cathay closed other overseas cabin crew bases and shut its regional airline Cathay Dragon in an effort to save money during the ongoing global pandemic. Those cuts resulted in almost 6000 jobs lost.
The once mighty Cathay Pacific has struggled even pre pandemic as other global airlines such as Emirates have eaten into their market share. The Covid 19 pandemic has taken a heavy toll on the finances of the company as it began to correct course. Last month the airline reported a loss of 2.8 Billion USD and is said
The remaining Hong Kong-based pilots and cabin crew had to agree to permanent pay cuts to keep their jobs.
Cathay, which lacks a domestic market at a time when international borders are largely shut, last month reported a record annual loss of HK$21.65 billion ($2.8 billion). Cathay has been burning through as much 250 million USD a month. The carrier stated last week “that figure would begin to reduce slightly due to an easing of cargo crew quarantine requirements.”