26 OCTOBER 2020
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The low-cost subsidiary of Cathay Pacific Airlines (CX), Cathay Dragon, was closed down with immediate effect by owner Cathay Pacific last Tuesday (20 October). Cathay itself is owned by the Swire Group.
“The global pandemic continues to have a devastating impact on aviation and the hard truth is we must fundamentally restructure the group to survive,” Cathay Pacific CEO Augustus Tang said.
“We have to do this to protect as many jobs as possible and meet our responsibilities to the Hong Kong aviation hub and our customers.”
The Cathay Dragon grounding is part of a wider restructure that includes more than 5,000 job losses.
Previously known as Dragonair, CX says it is hoped that the “majority” of the brand’s routes will be retained by Cathay Pacific or low-cost carrier (LCC) subsidiary HK Express. The carrier was the second-largest operator at Hong Kong Airport (HKG) in 2019 with a 16% share of all departure seats. Cathay Pacific itself is downsizing by 24%.
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