Cathay Dragon deserves better. We deserve better
We'd all seen it coming.
The company had lost a record HK$9.87 billion over the first six months this year, and had been incurring average monthly expenses of $2-3bn since early 2020. Slipping revenue – as a result of both the civil and social unrest that had rocked Hong Kong since mid-2019, as well as the onslaught that has taken over the world – has landed the firm in a sticky situation, one where it's damned if it does, damned if it doesn't.
The writing was on the wall: from whispered rumours concerning the dismissal of front-line workers and staffers, to hushed-up tales of record deficits rocking the board, to the dire plea for governmental assistance – we'd have known for a while that Cathay Pacific wasn't doing well, and that all there was standing between what was once touted as Hong Kong's finest airline company, and possible down-scaling, was merely time, and the staff's fortuitous resilience. ...