Air freight optimism for North America's cherry trade pipped by 'other factors'
After two successive years of sub-standard crops, this year’s cherry harvest in the US provided ...
Cathay Pacific has confirmed plans to push ahead with staff redundancies.
The move follows a 2016 described by chief executive Ivan Chu as one characterised by weak sales and declining demand – despite growth in its cargo division of 3% in 2016.
CH Aviation reported that Mr Chu had conceded the “very tough” operating environment – which he expected to impact the carrier over the long-term – had forced Cathay to draw up a restructuring plan and confirmed a staff reduction exercise, although no numbers were mentioned.
The decision by Cathay follows similar moves by Etihad, which last year confirmed it would be cutting jobs as it attempted to come to grips with an increasingly competitive market.
A spokesperson told The Loadstar it was not yet clear which parts of the business or what numbers would be affected, but it is thought some jobs have already gone in Europe. However, a source told Bloomberg it could be between 1,000 and 3,000.
'I'm scared', says Boeing whistleblower, after two others suffer mysterious deaths
DSV could face $16m bill after helicopter is written off in haulage accident
FAK rate hikes holding, with strong demand into peak season predicted
Déjà vu as major ocean carriers scramble for tonnage and containers
Indian trade disrupted as port congestion forces liner services to skip calls
Ecommerce boom may be opening the doors for smugglers
Don't get too confident for Q2, market risks haven't disappeared, warns Yang Ming chief
Shipper frustration as spot rates rise alongside demand, and cargo is rolled
Don't chase that final dollar, warning to shippers delaying signing new contracts
Airfreight contracts begin to reflect threat of a Q4 capacity crunch
Q1 'better than expected' for Maersk – but 'there's more pressure to come'
Comment on this article