Commodities

Cathay Pacific to close pilot bases in Canada, Australia, New Zealand - SCMP

Credit: REUTERS/BOBBY YIP

Hong Kong's Cathay Pacific Airways Ltd will close its Canadian pilot base and plans to also shut its pilot bases in Australia and New Zealand, the South China Morning Post reported on Thursday, citing an internal memo.

Also to review Europe, U.S. pilot bases -report

Airline cut 5,900 jobs in 2020 due to travel downturn

Reported record loss of $2.8 bln in 2020

Adds background on annual loss, cash burn

April 22 (Reuters) - Hong Kong's Cathay Pacific Airways Ltd 0293.HK will close its Canadian pilot base and plans to also shut its pilot bases in Australia and New Zealand, the South China Morning Post reported on Thursday, citing an internal memo.

The carrier's European and United States pilot bases will also be reviewed later in 2021, the newspaper said, adding that the moves could affect hundreds of jobs.

Cathay had already closed overseas cabin crew bases and shut its regional airline Cathay Dragon to help it conserve cash during the pandemic, resulting in the loss of more than 5,900 jobs.

The airline did not immediately respond to a request for a comment on the pilot base closures.

Cathay, which lacks a domestic market at a time when international borders are largely shut, last month reported a record annual loss of HK$21.65 billion ($2.79 billion).

It has been burning through as much as HK$1.9 billion of cash a month, though the carrier said last week that figure would begin to reduce slightly due to an easing of cargo crew quarantine requirements.

($1 = 7.7611 Hong Kong dollars)

(Reporting by Jamie Freed in Sydney; Editing by Christian Schmollinger and Muralikumar Anantharaman)

((Jamie.Freed@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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