Deng Jianrong, CEO of Hong Kong Cathay Pacific Airways, told Hong Kong media，The group currently has a serious surplus of manpower，Employee salaries are the largest expense，In order to solve the monthly "cash burn" of 1.5 billion to 2 billion yuan (Hong Kong dollars)，About 2.6.6 billion to 3.S$5.5 billion)，So it is necessary to be decisive、Make quick decisions。

According to "Sing Tao Daily" report，Deng Jianrong said no matter how much the workload is reduced，There is no difference in salary expenses。But he also warned，It would be dangerous if you “lose weight” drastically，Companies must remain flexible，To welcome market recovery。He emphasized the importance of immediate survival，Also focus on long-term operations。

Deng Jianrong said frankly，Even after reorganization is completed，It is still impossible to "stop the bleeding" before the number of passengers picks up。“Passenger transport accounts for 75% of our revenue，90% less business in this area，No matter what you do, it is impossible to change the cash flow from 188bet app download negative to positive or zero”。

He pointed out，One of the purposes of reorganization，It is to support until passenger demand recovers，Thinks that restructuring will focus on short-term operations that were less focused on in the past，“Must be qualified to continue to survive，Only then can we discuss what to do in the medium to long term”。

Deng Jianrong said，The group will also review its prospects in three to five years。But he reiterated，We will discuss the most appropriate operation scale and model in the future，Make recommendations to the Board of Directors in Q4，Because the review work is still in progress，Unable to provide details yet。

According to the latest forecast from the International Air Transport Association (IATA)，Global passenger demand will not return to last year’s level until 2024，One year delayed from May estimate，International flights are still at a standstill。To gain time for recovery，Cathay Pacific earlier received a capital injection of NT$27.3 billion from the government，Together with seeking rights issue from shareholders，A total of 39 billion yuan was raised to tide over the crisis。To this，Deng Jianrong has not assessed how long it will last，Only "if you have a few years to deploy it for me"，I wouldn’t be so nervous。”

In fact，Cathay Pacific’s business has declined since the Sino-US trade war and social incidents in Hong Kong last year，Deng said，188bet app The capacity was reduced as early as September last year due to the decrease in passenger volume，Until the outbreak started earlier this year，Which makes the aviation industry even worse，Recently, the average daily passenger capacity is only 1,500，Compared with the normal daily average of 100,000 passengers，Described the situation as “pretty miserable”。In response to the sharp decrease in the number of passengers，Capacity also reduced to single digits，The latest announced August capacity is less than 8%。Deng Jianrong thinks，Even if the epidemic situation improves in the rest of this year，Only a small number of passengers，At best, we can only arrange 10% of the transportation capacity。

The aviation industry enters the “new normal” under the epidemic，Cathay Pacific’s restructuring will focus on improving competitiveness、and two major policies to improve cost-effectiveness，Deng Jianrong said，Cathay Pacific has its mission and responsibility to consolidate Hong Kong’s status as an international aviation hub，And rely on cross-border networks，Flights will continue to operate as long as the losses are not large。

Deng Jianrong pointed out，Facing the new normal of the post-epidemic tourism market，There will be two major restructuring policies，The first is to improve service and competitiveness，To provide customers with high quality、Competitive 188bet Online Sports Betting and Casino services。On the other hand，Cathay also attaches great importance to significantly improving cost-effectiveness in the future。He said，Will not refer to other airlines’ restructuring plans，Because of local policies、Talent and supply chain are different，Will tailor a plan for the company。

Among Cathay Pacific’s three major passenger airline brands，Cathay Pacific Airways and Cathay Dragon have given up applying for the second round of the "Employment Support Scheme"，Involving more than 20,000 full-time employees in Hong Kong；As for Hong Kong Express, which operates low-cost airlines, there is an application。As to whether it means following the low-cost airline route after restructuring，Deng Jianrong did not disclose details，Only refers to the different impacts of the epidemic on its multiple subsidiaries，After considering many factors，This decision was made。

Deng Jianrong pointed out，Cathay has its mission and responsibility，Consolidating Hong Kong’s status as an international aviation hub，It is expected that the aviation industry will recover after the restructuring，Ordering its airlines to continue to be based in Hong Kong under the new normal，Gradually expand business and tourism business，Seize the opportunities in the Greater Bay Area at the same time，Confidence in this in the long run。

188bet sports betting app download Original title:《Cathay Pacific is severely overstaffed and management warns that 188bet app decisive reorganization is necessary》.