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| Cathay Pacific offers early retirement to cut costs | Cathay Pacific offers early retirement to cut costs |
| (about 1 hour later) | |
| Hong Kong's Cathay Pacific has offered voluntary retirement to its cabin crew, as the airline looks to trim costs. | Hong Kong's Cathay Pacific has offered voluntary retirement to its cabin crew, as the airline looks to trim costs. |
| The carrier has been looking to turn around its fortunes after making a HK$935m ($121m; £76m) loss in the first half of 2012. | |
| The move also comes just weeks after Cathay averted a potential strike by its cabin crew over a pay dispute. | The move also comes just weeks after Cathay averted a potential strike by its cabin crew over a pay dispute. |
| The airline sector has been hurt by volatile fuel costs and a dip in travel demand amid a global economic slowdown. | The airline sector has been hurt by volatile fuel costs and a dip in travel demand amid a global economic slowdown. |
| Earlier this year, Singapore Airlines, another leading regional carrier, offered unpaid leave to its pilots. | Earlier this year, Singapore Airlines, another leading regional carrier, offered unpaid leave to its pilots. |
| Cathay Pacific said the voluntary retirement plan applies only to cabin crew based in Hong Kong, who joined the airline before September 1996. | |
| The airline added that the scheme will also help in creating promotion opportunities for the younger members of the crew. |