A passenger checks in at the Cathay Pacific counter at the Hong Kong International Airport, on Wednesday. The airline said it would cut 8,500 jobs and shut down its regional airline unit as part of a corporate restructuring. Photo: AP Photo
Cathay Pacific shares jump after Hong Kong’s flag carrier announces sweeping overhaul that will eliminate 8,500 jobs
- Analysts expect restructuring to help the carrier stay afloat for the time being, but outlook depends on resumption of air travel
- Daiwa raises price target by 19.4 per cent, while Jefferies maintains ‘hold’ rating
A passenger checks in at the Cathay Pacific counter at the Hong Kong International Airport, on Wednesday. The airline said it would cut 8,500 jobs and shut down its regional airline unit as part of a corporate restructuring. Photo: AP Photo
