Jan
16
Cathay Pacific to Revamp Fuel Hedges, Workforce; Shares Rise
By-
Carrier ‘won’t hedge as far forward,’ COO Rupert Hogg says
-
Hogg also says Cathay Pacific will ‘rethink’ its workforce
Cathay Pacific Airways Ltd., Asia’s biggest international airline, plans to shorten its fuel-hedging program and revamp its workforce as part of a new business strategy to halt a slide in earnings. The shares jumped the most in nine months.
The carrier “won’t hedge as far forward as we have in the past” and will “rethink its workforce,” Chief Operating Officer Rupert Hogg told the South China Morning Post in comments confirmed by Cathay Pacific Monday. The Hong Kong-based airline plans to reassign employees from some outdated roles to new jobs that are better aligned with a “digital focus” while “never saying never” to redundancies, Hogg said…
Cathay Pacific to Revamp Fuel Hedges, Workforce; Shares Rise
