(Reuters) - Hong Kong's Cathay Pacific Airways Ltd <0293.HK> will cut around 6,000 jobs or 18% of its workforce, and axe regional brand Cathay Dragon to help it weather the coronavirus pandemic, the South China Morning Post reported on Tuesday, citing sources.
Cathay Pacific proposed the bailout as it struggles to survive the near collapse of regional travel due to the pandemic
Between October 2014 and May 2019, a lack of security measures on the carrier's computer systems led to a massive data breach involving 9.4 million customers around the world
'I am hoping all of you will participate, from our frontline employees to our senior leaders,' said the airline's CEO in a video message
Employers early on supported their workers' desire to protest but have started to shift under pressure from Beijing
Augustus Tang has been named as the new chief
The protests in Hong Kong have infuriated Beijing and left Cathay Pacific in a difficult position
The nosedive comes as the airline is caught up in pro-democracy protests that have rocked Hong Kong for more than two months
HK Express reported a HK$141 million net loss in 2018 and had a net asset value of HK$1.12 billion, Cathay said
Cathay Pacific Airways said it would guarantee thousands of first and business-class flights sold at huge discounts after a ticketing error, calling the mistake a surprise special on New Years Day
Cathay Pacific Airways Ltd. said a hacker accessed personal information of 9.4 million customers, becoming the target of the world's biggest airline data breach
The airline said it had discovered suspicious activity on its network in March and confirmed unauthorised access to certain personal data in early May
Cathay said 860,000 passport numbers, about 245,000 Hong Kong identity card numbers, 403 expired credit card numbers and 27 credit card numbers with no card verification value (CVV) were accessed
Cathay Pacific and other premium airlines are facing intense competition from low-cost carriers