Cathay Pacific to shut down Dragon brand, cut over 8,000 staff

Cathay Pacific Airways Limited will close its wholly-owned subsidiary Cathay Dragon and cut approximately 8,500 positions across the Cathay Pacific Group, a statement by the carrier said on Wednesday.

The Hong Kong flagship airline said it intends to seek regulatory approval for transferring a majority of Cathay Dragon's routes to the company and its other wholly-owned subsidiary, Hong Kong Express Airways Limited.

The estimated 8,500 positions to be eliminated account for around 24 percent of the Group's established headcount of 35,000. Among them, 5,300 Hong Kong-based employees will be made redundant in the coming weeks, said the statement.

(CGTN)