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layoffs coronavirus
Cathay Pacific shutdown of Dragon brand cuts intra-Asia cargo capacity
Cathay Dragon flights with cargo-only passenger aircraft ended with the regional carrier’s shutdown Wednesday, leaving shippers with fewer options during the peak freight season.
Hong Kong-based Cathay Pacific Group (OTCUS: CPCAY) said it was immediately merging the Dragon brand into two other airline subsidiaries as part of a sweeping restructuring that will see the elimination of 8,500 positions and other downsizing measures precipitated by a steep fall in passenger business due to the...
https://s29755.pcdn.co/news/cathay-pacific-shutdown-of-dragon-brand-cuts-intra-asia-cargo-capacity
IATA cargo chief Hughes takes buyout amid downsizing
The top cargo official at the International Air Transport Association (IATA) will exit early next year as part of a restructuring to reduce costs amid a global pandemic that has wrecked the finances of member airlines.
IATA confirmed that Glyn Hughes, the global head of cargo, and Gordon Wright, in charge of cargo border management, have accepted voluntary separation packages and will depart at the end of January.
“During this time there will be no change in the support, advice and services IATA...
https://s29755.pcdn.co/news/iata-cargo-chief-hughes-takes-buyout-amid-downsizing
Exclusive: Largest airline trade association to reduce workforce 20%
Reflecting the financial distress of its airline members in the midst of the coronavirus pandemic, the International Air Transport Association is planning to reduce its worldwide staff by a fifth, a source at the trade association said.
IATA represents nearly 300 airlines operating scheduled and non-scheduled air service.
Airlines around the world are expected to lose $84 billion in 2020 and are slashing hundreds of thousands of people from payrolls. Airlines have made radical cuts to...
https://s29755.pcdn.co/news/exclusive-largest-airline-trade-association-to-reduce-workforce-20
American Airlines cargo revenue sinks, along with Q2 profit
American Airlines (NASDAQ: AAL) has offered cargo-only flights during the COVID-19 pandemic, but the new line of business didn’t overcome the lost cargo moved on passenger airplanes that were grounded in the second quarter.
The Fort Worth, Texas-based airline on Thursday reported $130 million in cargo revenue for the quarter ended June 30, down 41% from the same quarter last year. Cargo revenue for the first half of the year amounted to $277 million, 37% below 2019.
American said it currently...
https://s29755.pcdn.co/news/american-airlines-cargo-revenue-sinks-along-with-q2-profit
American Airlines warns of 25,000 job cuts
American Airlines (NASDAQ: AAL) on Wednesday informed 25,000 employees that their jobs could be eliminated after Oct. 1, when federal money covering wages for airline workers runs out.
Company executives say furloughs are necessary because the airline will have an oversupply of workers as it operates a significantly reduced schedule to match the downturn in travel caused by the coronavirus pandemic.
“We hate taking this step, as we know the impact it has on our hardworking team members. From the...
https://s29755.pcdn.co/news/american-airlines-warns-of-25000-job-cuts
US customs brokers, forwarders cautiously trickle back to offices
After several months of stay-at-home orders, America’s customs brokerage and freight forwarding firms are preparing to reopen their offices in the weeks and months ahead. However, these companies do not anticipate a return to pre-coronavirus conditions, industry experts say.
“Our return-to-office plan considers that the future of work, as we have known it for all companies around the world, is shifting,” Marcia Lyssy, chief human resources officer for BDP International, told American Shipper.
Phil...
https://s29755.pcdn.co/news/us-customs-brokers-forwarders-cautiously-trickle-back-to-offices