Cathay to maintain job levels, cut cargo as it negotiates downturn

Source : ATW

"Cathay Pacific Airways CEO Tony Tyler confirmed to ATWOnline at this week's oneworld anniversary event in Madrid that the carrier has no plans to lay off employees despite the current downturn and repeated profit warnings. It is, however, making small changes in order to weather the storm (ATWOnline, Jan. 8). "We have already parked two freighter aircraft. If necessary more will follow," Tyler said, ruling out the grounding of any passenger planes. Last month, the Hong Kong Airport Authority agreed to let CX delay completion of its new cargo terminal by two years until mid-2013 (ATWOnline, Jan. 16). It also has been trying to sell five 777-200s, but that effort has hit a snag. "We found a buyer, but it is not able to finance the aircraft anymore," Tyler said."


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