|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||5.18 - 5.24|
|52 Week Range||4.82 - 13.75|
|Beta (5Y Monthly)||0.59|
|PE Ratio (TTM)||9.26|
|Forward Dividend & Yield||0.23 (4.50%)|
|Ex-Dividend Date||Nov 15, 2019|
|1y Target Est||N/A|
Cathay Pacific (CPCAY), Hong Kong's flagship airline, will slash 5,900 jobs, or 17% of its total, and eliminate entirely its Cathay Dragon regional-airline brand, the company said Wednesday. The shares got a short-lived bounce, up 6.1% after the announcement, and closing on a 2.8% gain in Hong Kong. In terms of departures, 5,300 employees in Hong Kong are being made redundant, as well as 600 at its international operations.
Hong Kong's Cathay Pacific Airways Ltd <0293.HK> said on Wednesday it would slash 5,900 jobs and end its regional Cathay Dragon brand, joining peers in cutting costs as it grapples with a plunge in demand due to the coronavirus pandemic. "The actions we have announced today, however unpalatable, are absolutely necessary to bring cash burn down to more sustainable levels," Cathay Chairman Patrick Healy told reporters. Singapore Airlines Ltd <SIAL.SI> and Australia's Qantas Airways Ltd <QAN.AX> have already announced similarly large payroll cuts, as the International Air Transport Association forecasts passenger traffic will not recover until 2024.
Singapore Airlines (SG:C6L) has launched a waiting list for onboard meals on two of its grounded Airbus A380 double-decker jumbo jets, after tickets sold out within 30 minutes of bookings opening on Oct. 12. “Singapore Airlines (SINGY) can confirm that all seats that were initially made available for its Restaurant A380 @Changi dining lunch experience were reserved within 30 minutes of bookings opening on 12 October 2020, ” the airline said in an emailed statement. The idea has proved to be so popular that Singapore Airlines has launched additional dates for lunch and dinner on Oct. 24 and Oct. 25, Oct. 31 and Nov. 1.