Cathay Pacific and Cathay Dragon could start making staff redundant as early as next month after their parent group announced on Friday they will not seek further government help on wages, though subsidiaries will still tap the next round of coronavirus relief.
Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China. Based on the airline’s timeline and the looming expiration of the wage subsidy, lay-offs could begin in October. Otherwise, any redundancies would be put off until at least December for those who apply for the scheme again.
Key rival Singapore Airlines on Thursday said 4,700 jobs would be axed. Despite a hiring freeze, early retirements and natural attrition, the airline said it still needed to cut another 2,400 positions. Companies taking part in Hong Kong’s Employment Support Scheme, launched to ease the economic blow from the pandemic and now in its second round, are not allowed to make redundancies as a condition of accepting the cash.
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