Route Network Update for Cathay Pacific - ch-aviation - ch-aviation

Cathay Pacific slashes crew wages, pledges no more job cuts

10.11.2020 – 20:03 UTC

The vast majority of pilots and cabin crew at Cathay Pacific (CX, Hong Kong Int’l) have signed up for new take-it-or-leave-it contracts that will pay them less, the airline revealed in a statement on November 5.

This part of Cathay’s corporate restructuring, which it announced on October 21, is essential to ensure its survival and secure its future, it explained.

Following the end of a “consent period” on November 4, Cathay Pacific said that 2,613 pilots and 7,346 cabin crew had signed on to the new and permanent “conditions of service,” representing 98.5% of pilots and 91.6% of cabin crew who were asked to agree.

“We are very grateful to those who have accepted the new contracts. These are competitive contracts, which will enable us to continue to recruit and retain the very best people to be our pilots and cabin crew as we seek to survive and rebuild our business,” Hong Kong’s flag carrier, hard hit by the coronavirus crisis, added.

“For those who decided not to join us, we respect their decision….

Air China Cargo reveals share capital raise, new investors

10.11.2020 – 09:01 UTC

Air China Cargo (CA, Beijing Capital) is set to undergo a share capital increase which, once completed, will see the introduction of several new shareholders. As previously reported, the freight specialist is in the process of expanding its business scope to include logistics
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