Cathay Pacific in tighter spot than SIA, say analysts

HK carrier has higher staff costs, faces task of balancing its roots with ties to Beijing

Cathay Pacific this week said it is laying off nearly 6,000 people and cutting 2,600 vacant roles, as well as shuttering regional airline Cathay Dragon and redoing contracts for pilots and cabin crew. This comes after Singapore Airlines said last mon
Cathay Pacific this week said it is laying off nearly 6,000 people and cutting 2,600 vacant roles, as well as shuttering regional airline Cathay Dragon and redoing contracts for pilots and cabin crew. This comes after Singapore Airlines said last month that it was cutting 20 per cent of its workforce, or 4,300 positions. PHOTOS: BLOOMBERG, ALPHONSUS CHERN
Cathay Pacific this week said it is laying off nearly 6,000 people and cutting 2,600 vacant roles, as well as shuttering regional airline Cathay Dragon and redoing contracts for pilots and cabin crew. This comes after Singapore Airlines said last mon
Cathay Pacific this week said it is laying off nearly 6,000 people and cutting 2,600 vacant roles, as well as shuttering regional airline Cathay Dragon and redoing contracts for pilots and cabin crew. This comes after Singapore Airlines said last month that it was cutting 20 per cent of its workforce, or 4,300 positions. PHOTOS: BLOOMBERG, ALPHONSUS CHERN
Updated
Oct 23, 2020, 06:13 AM
Published
Oct 23, 2020, 05:00 AM
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HONG KONG • They are both critically important to their domestic economies, highly regarded by customers and very much reliant on international travel. They are also in deep financial strife and shedding thousands of jobs because of the coronavirus crisis.

Cathay Pacific Airways and Singapore Airlines (SIA) have stood out for over half a century as aviation powerhouses, prestigious brands atop a lucrative market fuelled by Asia's economic boom.

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A version of this article appeared in the print edition of The Straits Times on October 23, 2020, with the headline Cathay Pacific in tighter spot than SIA, say analysts. Subscribe

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