Cathay Pacific confirms hiring freeze
Cathay Pacific Airways has confirmed a hiring freeze for the airline and its unit, Hong Kong Dragon Airlines, as part of its cost-cutting measures to deal with reduced demand.
Cathay Pacific chief executive Tony Tyler recently said in a staff newsletter the hiring suspension took effect at the end of October. He added the airline aims to adjust its operating plan for next year in anticipation of a weak market for air travel.
However, he said: “I remain unashamedly optimistic about the future of aviation in Asia – just think of the potential in China and India alone.”
The airline’s plans to cut costs include the removal of five Boeing 777-200 passenger aircraft from service over the next two years, as well as returning two of Dragonair’s Airbus A330 aircraft to their owners when the leases expire in June.
Tyler said the removal of the 777-200s, which include the first ever 777 ever built, will help Cathay Pacific simplify its fleet structure, adding “if we do manage to sell them, the cash will come in very useful.”
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