Cathay Pacific to close cabin crew base in Toronto

Cathay Pacific is closing its cabin crew base in Toronto as part of a business review, potentially affecting 120 workers in the Canadian city. The Hong Kong-based airline is talking with the union to explore options for the employees, including opportunities in other locations, it said Tuesday in an emailed response to a report in the South China Morning Post. The company currently doesn’t have plans to close other bases outside Hong Kong, it said. Cathay Pacific is in the final year of a transformation program that started in 2017 after fierce competition from Chinese airlines and low-cost carriers led to losses in two consecutive years. The Hong Kong-based company is seeking to reduce HK$4b ($510m) in expenses after cutting 600 jobs at its main office and added more seats on some of its aircraft. <br/>
Bloomberg
https://www.bloomberg.com/news/articles/2019-02-11/two-large-chinese-borrowers-are-said-to-miss-bond-payments
2/12/19