Cathay Pacific to Close U.S. Bases Amid COVID-19 Economic Woes

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By Gina Lee

Investing.com – Cathay Pacific will close three bases in the United States as the airline continues to struggle with the economic impact of the COVID-19 pandemic.

The airline will close its bases in New York, San Fransisco and Los Angeles, affecting 286 staff. Elsewhere in North America, it has already closed its Vancouver base in March and closed its Toronto base in 2019.

The U.S. closures will bring the number of Cathy staff who will lostheir jobs to 553.

Cathay will maintain its three remaining overseas bases in London, Bangkok and Singapore.

The move comes as the company announced its March traffic figures on Thursday. Alongside sister airline Cathay Dragon, it carried 311,128 passengers in March, a 90% decrease from the same period in 2019.

It already slashed its flight schedules by two-thirds in March,and outlined a “skeleton” service for flights in April.

Cathay Pacific stocks in Hong Kong gained 3.88% to HK$9.36 by 12:51 AM ET (5:51 AM GMT), despite the company’s announcement. 

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