UPDATE 1-Hong Kong Airlines to cut 400 jobs, operations as coronavirus hits travel [Reuters]
CATHAY PAC AIRWAYS S/ADR (CPCAY)
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Source: Reuters
Hong Kong Airlines to cut 400 jobs, operations as coronavirus hits travel (Reuters) - Hong Kong Airlines said on Friday that it will slash 400 jobs and cut operations given weak travel demand because of the coronavirus outbreak, adding to financial woes for the city’s second-largest carrier. The South China Morning Post first reported about the airline’s plans to cut about 10% of its workforce. “As uncertainty looms with the evolving nature of this global issue, weak travel demand will likely continue into the summer season and we need to take further action to stay afloat,” an airline spokesman said in an email to Reuters. “There has never been a more challenging time in Hong Kong Airlines’ history as of now. These decisions are difficult but had to be made to keep the airline alive,” he added. Several airlines have suspended flights to China, where the virus is believed to have originated. The flu-like coronavirus can be transmitted from person to person and has infected more than 3
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