The massive job cuts at Cathay Pacific, Hong Kong’s flagship carrier, are likely to further drag down the city’s flagging property market, with districts close to the airport potentially facing steep cuts in home prices and rents, according to analysts.The embattled airline’s announcement on Tuesday that 5,900 jobs would be axed, including cabin crew and pilots, will further increase the number of jobless residents in Hong Kong, which rose to a near 16-year high of 6.4 per cent in the third…
Source : South China Morning Post
Read more…Cathay Pacific job cuts will hit Hong Kong housing market as axed pilots, cabin crew move away or downsize, say analysts















