Editing Cathay Pacific (section)

===2020–present: COVID-19 pandemic, recovery and ongoing developments===

==== 2020: Recapitalisation and government bailout ====
On 9 June 2020, Cathay Pacific, [[Swire Pacific]] and [[Air China]] halted stock trading pending an announcement. On 10 June, Cathay Pacific and the [[Government of Hong Kong]] jointly announced a HK$39&nbsp;billion recapitalisation plan and rescue package for Cathay Pacific.<ref>{{Cite web |title=Cathay Pacific floats $39b bailout plan |url=https://hongkongbusiness.hk/aviation/news/cathay-pacific-raise-39b-recapitalisation |access-date=10 June 2020 |website=Hongkong Business |archive-date=26 October 2020 |archive-url=https://web.archive.org/web/20201026062601/https://hongkongbusiness.hk/aviation/news/cathay-pacific-raise-39b-recapitalisation |url-status=dead}}</ref> In the rescue package, the Government of Hong Kong will be issued HK$19.5 billion dividend-paying preference shares and HK$1.95&nbsp;billion of warrants, giving it a 6% stake. The stake of the three major stakeholders, Swire Pacific, Air China, and [[Qatar Airways]], would fall to 42%, 28% and 9.4% due to the government stake. Also, Cathay Pacific would receive a HK$7.8&nbsp;billion bridging loan and the Government would have the right to appoint two observers on Cathay's board. The finance secretary of the HKSAR Government Paul Chan said, "It is not our intention to become a long-term shareholder of Cathay Pacific."<ref>{{Cite news|date=9 June 2020|title=Hong Kong spearheads $5 billion Cathay Pacific rescue package|language=en |work=Reuters |url=https://www.reuters.com/article/us-health-coronavirus-cathay-pacific-idUSKBN23G022 |access-date=10 June 2020 |archive-date=27 March 2021|archive-url=https://web.archive.org/web/20210327214153/https://www.reuters.com/article/us-health-coronavirus-cathay-pacific-idUSKBN23G022|url-status=live}}</ref>

====2020–2022: COVID-19 pandemic====

The [[COVID-19 pandemic]] led to travel bans and significantly reduced flight demands, which caused Cathay Pacific to cut international flights in response. In 2020, 96% of all flights from March to May were cancelled, while the group's subsidiary [[HKExpress]] suspended all flight operations from 23 March to 30 April 2020, due to reduced demand.<ref>{{cite news |work=CNN|publisher=Warner Bros. Discovery|location=Hong Kong|url=https://edition.cnn.com/2020/03/20/business/cathay-pacific-flights-coronavirus-travel/index.html|title=Cathay Pacific slashes almost all passenger flights over the coronavirus pandemic |last=Toh|first=Michelle|date=20 March 2020|access-date=23 March 2020|archive-date=22 March 2020|archive-url=https://web.archive.org/web/20200322211728/https://edition.cnn.com/2020/03/20/business/cathay-pacific-flights-coronavirus-travel/index.html|url-status=live}}</ref> At one point during the crisis, only 582 passengers flew with Cathay Pacific in an entire day.<ref>{{Cite news|url=https://www.cnn.com/2020/04/03/business/cathay-pacific-flights-coronavirus-covid-19/index.html |title='Demand has disappeared': Cathay Pacific slashes more flights after flying just 582 people in one day |author=Michelle Toh |author2=Isaac Yee|work=CNN |publisher=Warner Bros. Discovery|location=Hong Kong|access-date=3 April 2020|archive-date=22 February 2021|archive-url=https://web.archive.org/web/20210222131753/https://www.cnn.com/2020/04/03/business/cathay-pacific-flights-coronavirus-covid-19/index.html|url-status=live}}</ref>

In December 2020, the company said that it expected losses in the second half to be higher than the losses of the first half due to low demand, restructuring charges, and impairments on its fleet.<ref>{{Cite news|date=16 December 2020|title=Cathay Pacific sees H2 loss 'significantly higher' than H1|language=en|work=Reuters|location=Hong Kong|url=https://www.reuters.com/article/us-cathay-pacific-outlook-idUSKBN28Q11D|access-date=16 December 2020|archive-date=21 December 2020|archive-url=https://web.archive.org/web/20201221220433/https://www.reuters.com/article/us-cathay-pacific-outlook-idUSKBN28Q11D|url-status=live}}</ref>

In 2021, the company posted a record annual loss of US$2.8&nbsp;billion for 2020.<ref>{{Cite news|date=10 March 2021|title=Cathay Pacific posts record $2.8bn loss for 2020|language=en-GB|work=BBC News|location=Hong Kong|url=https://www.bbc.com/news/business-56343091|access-date=10 March 2021|archive-date=10 March 2021|archive-url=https://web.archive.org/web/20210310045253/https://www.bbc.com/news/business-56343091|url-status=live}}</ref> It was also announced that the company would cut an additional 8,500 jobs.<ref>{{Cite news|date=10 March 2021|title=Cathay Pacific posts record $2.8bn loss for 2020|language=en-GB|work=BBC News|location=Hong Kong|url=https://www.bbc.com/news/business-56343091|access-date=18 March 2021|archive-date=16 March 2021|archive-url=https://web.archive.org/web/20210316151805/https://www.bbc.com/news/business-56343091|url-status=live}}</ref>

On 22 April 2021, the company began its job cuts by closing its Canada pilot base, on the same day they began consultation with pilots at their Australia and New Zealand pilot bases regarding base closure in those jurisdictions. Pilots with the right to live and work in Hong Kong would be offered employment, however, those without the right to live and work in Hong Kong would face redundancy. On the same day, the company announced that they would review its bases in Europe and the United States later in the year.

On 12 May 2021, the company announced the closing of its Frankfurt pilot base. Around 50 pilots' jobs were at risk. As with the Canada base closing announced two and a half weeks earlier, pilots with the right to live and work in Hong Kong would be offered jobs, while those without the right to live and work in Hong Kong would face redundancy.<ref>{{Cite news|date=12 May 2021|title=Cathay Closes Frankfurt Base|language=en-GB|url=https://thefunnybeaver.com/exclusive-news-memes-cathay-closes-frankfurt-base/|website=Thefunnybeaver.com|access-date=12 May 2021|archive-date=12 May 2021|archive-url=https://web.archive.org/web/20210512191644/https://thefunnybeaver.com/exclusive-news-memes-cathay-closes-frankfurt-base/|url-status=live}}</ref>

In June 2021, the company said that losses in 1H 2021 were expected to be lower than US$1.27 billion in 2020, due to cost-saving measures and strong demand for cargo flights.

In 2023 and in conjunction with the [[Airport Authority Hong Kong]]'s "World of Winners" campaign,<ref name=worldofwinners>{{cite web|title=World of Winners|url=https://wow.hongkongairport.com/tickets|publisher=Airport Authority|access-date=27 April 2023|archive-date=27 April 2023|archive-url=https://web.archive.org/web/20230427215724/https://wow.hongkongairport.com/tickets|url-status=live}}</ref> which aimed to promote tourism within [[Hong Kong]], the airline provided some of the 500,000 tickets in the campaign, and released them in tranches for each region.<ref name=cxworldofwinners>{{cite web |url=https://flights.cathaypacific.com/en_GB/offers/world-of-winners.html |title=World of Winners tickets giveaway campaign |access-date=27 April 2023 |archive-date=27 April 2023 |archive-url=https://web.archive.org/web/20230427221042/https://flights.cathaypacific.com/en_GB/offers/world-of-winners.html |url-status=live }}</ref> Participants were required to register for its frequent flyer program and fill in a registration form on the date for the region the participant was in.<ref name=cxworldofwinnerstc>{{cite web |title=Cathay Pacific's Terms and Conditions on World of Winners |url=https://flights.cathaypacific.com/content/dam/cx/digital-library/sea/world-of-winners/world-of-winners_terms-and-conditions_PH-EN.pdf |date=March 10, 2023 |access-date=27 April 2023 |archive-date=27 April 2023 |archive-url=https://web.archive.org/web/20230427221041/https://flights.cathaypacific.com/content/dam/cx/digital-library/sea/world-of-winners/world-of-winners_terms-and-conditions_PH-EN.pdf |url-status=live }}</ref>

====2023–2024: Mass flight cancellations====
From December 2023 to January 2024, Cathay had to trim its schedules by an average of twelve flights per day through to the end of February to avoid significant flight cancellations over the peak Lunar New Year period. The pre-emptive decision comes as the airline grapples with a significant pilot shortage.

The cancellations were mainly on routes with multiple daily services, allowing Cathay to transfer booked passengers onto same day services. The carrier is also under some scrutiny in Hong Kong after a spate of flight cancellations since 24 December 2023, including forty flights over four days. Cancellations peaked on 7 January when the airline axed 27 flights at short notice.

After slashing its workforce during the [[COVID-19 pandemic]], local news outlets say Cathay Pacific is now experiencing significant difficulties recruiting pilots, especially senior pilots. According to ''[[The Straits Times]]'', around 1,000 of the airline's 4,000 pilots were made redundant during the pandemic, while a further 1,000 resigned, effectively reducing Cathay's pilot pool by 50% over the period.<ref>{{cite web | url=https://www.ch-aviation.com/news/135983-cathay-pacific-trims-flights-due-to-pilot-shortage | title=Cathay Pacific trims flights due to pilot shortage }}</ref>

On 12 December 2024, it was reported that Cathay have met their target of hiring 3,400 pilots to bring the airline back to pre-pandemic capacity. The airline is also planning to add another 100 pilots in January 2025. Prior to the pandemic, Cathay had a base of 3,800 pilots.<ref>{{Cite web |date=2024-12-12 |title=Hong Kong's Cathay hires 3,400 pilots this year, with low resignation rate of 2.9% |url=https://www.thestar.com.my/aseanplus/aseanplus-news/2024/12/12/hong-kongs-cathay-hires-3400-pilots-this-year-with-low-resignation-rate-of-29 |access-date=2024-12-18 |website=The Star |language=en}}</ref>

====2024–present====
On 8 January 2025, Cathay Pacific announced that the airline will be returning to [[Rome]], their 12th destination in Europe and the second [[Italy|Italian]] destination after [[Milan]]. The flight on this route will commence on 5 June 2025, operated by [[Airbus A350|Airbus A350-900]] aircraft.<ref>{{Cite web |last=Peters |first=Luke |date=2025-01-09 |title=Cathay Pacific to resume Rome flights in June 2025 |url=https://www.aerotime.aero/articles/cathay-pacific-to-resume-rome-flights-in-june-2025 |access-date=2025-01-12 |website=www.aerotime.aero |language=en-US}}</ref>