Cathay pledges to slash staff costs after loss
AFP
| 2017/03/17 | 313 words
| LE JOURNAL DE L'AVIATION | AIR TRANSPORT
Hong Kong's troubled flagship airline Cathay Pacific said Friday it would slash staff costs by 30 percent as part of a major overhaul as it struggles to repair its bottom line. The announcement came two days after the firm posted its first annual net loss in eight years, saying it had been hit by intense competition and a drop in demand from business travellers. Cathay had already revealed its biggest shake-up in 20 years in January, saying some jobs would go but providing little detail. Ana...(…)
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