Has Dragonair stopped its service?

Cathay Pacific announced its restructuring plan, including suspending its "Dragonair" business, with immediate effect. The company intends to seek regulatory approval to operate most of Dragonair's routes by its Hong Kong Express Airlines.

In addition, Cathay Pacific Airways Group (including Dragonair) will cut about 8,500 positions as a whole, accounting for about 24% of the group's total of 35,000 positions. Of these 8,500 jobs, about 5,300 Hong Kong employees will be laid off in the next few weeks, and about 600 non-Hong Kong employees may be affected, depending on the regulatory requirements of relevant regions. The remaining 2,600 positions are now vacant due to measures such as freezing recruitment and closing some overseas bases in recent months. Cathay Pacific will ask cabin attendants and pilots in Hong Kong to agree to change their conditions of service, so as to achieve the goals including making salaries closer to productivity and improving market competitiveness.

Cathay Pacific pointed out that the COVID-19 epidemic has brought severe challenges to the aviation industry, and the company has embarked on the capital restructuring plan as stated in the announcement, and implemented a number of cash preservation measures, including suspending unnecessary expenses, delaying the delivery of aircraft, launching a special vacation plan, and implementing salary reduction for senior managers. Even after many efforts, the company still loses 654.38+0.5 billion-2 billion yuan in cash every month. It is estimated that this reorganization will reduce the monthly cash expenditure of the Group in 20021year by about 500 million yuan.

Cathay Pacific announced that it would stop operating its Cathay Dragonair, which means that the brand "Dragonair" has become history. Cathay Dragonair, formerly known as Dragonair, has been established for 35 years. Cathay Pacific and its parent company Swire Group bought a 35% stake in Dragonair on 1990. In 2006, Dragonair became a wholly-owned subsidiary of Cathay Pacific, and was officially renamed Cathay Pacific Dragonair on 20 16. At present, Cathay Dragonair has about 46 destinations, mainly connecting mainland routes, but also including many popular tourist destinations in Asia, such as Chiang Mai, Thailand and Hanoi, Vietnam.