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As Cathay Pacific wields jobs axe, 'Swire prince' culture survives

Reuters  |  SINGAPORE 

By Jamie FreedSINGAPORE (Reuters) - Loss-making Cathay Pacific Airways Ltd hired McKinsey & Co consultants earlier this year to advise on a transformation plan, drawing on turnarounds at regional rivals such as Qantas Airways Ltd and Japan Airlines Co Ltd .Battered by competition from Chinese and Middle East airlines and hobbled by missteps in fuel hedging, Cathay in January completed a strategic review, and later announced its biggest job cuts in almost two decades.Following McKinsey's subsequent input - which has not been previously reported - Greg Hughes, Cathay's Chief Operations and ...

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First Published: Wed, December 06 2017. 04:55 IST