Ivan Chu

Cathay Pacific Sacks 600 Staff In Major Shakeup

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Hong Kong’s flagship airline Cathay Pacific said Monday it would cut 600 staff as part of a major overhaul to slash costs and repair its bottom line. The company posted its first annual net loss in eight years in March, citing intense competition as lower cost airlines, particularly from mainland China, eat into its market … Read more

Cathay Pacific Shares Rise After Management Shakeup

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Shares in Hong Kong carrier Cathay Pacific were up Thursday, a day after the airline announced a management shakeup on the heels of its first loss in eight years. Last month the troubled airline posted its first annual net loss since 2008, citing intense competition as lower cost carriers, particularly from mainland China, eat into … Read more