Govt Must Ensure Cathay Won't Cut Staff: Jeremy Tam
"); jQuery("#212 h3").html("

"); });
2020-06-09 HKT 16:46
Civic Party lawmaker and former Cathay pilot Jeremy Tam has urged Hong Kong officials to make sure that Cathay Pacific does not lay off staff after it receives a massive government funding injection and goes ahead with a reorganisation.
The government will lend HK$7.8 billion to the company and buy shares worth HK$19.5 billion in the airline which has been hit hard by travel restrictions across the world due to the Covid-19 pandemic.
Tam said a lot of employees have already volunteered to take unpaid leave to help the financially struggling company.
So when the taxpayers’ money is being loaned to the airline, the government should ensure that their jobs are protected, he said.
Tam said he understands many governments have been providing financial aid to the struggling airline industry. But the lawmaker said he’s concerned that the SAR’s planned use of public money will bypass Legco scrutiny.
He also said he's worried about the move to place two observers ion the director board of Hong Kong’s flagship carrier.
Tam said he feared this will be a ploy to carry out a political mission to punish the airline's staff.
Cathay had sacked some employees over their links to the anti-government agitation after mainland aviation authorities banned such staff on flights to the mainland.
Employees were also asked to refrain from making comments about the social unrest on their personal social media accounts.
Ant Internationals Ant Bank And Bettr Selected For Hong Kongs GenAI Sandbox++
Digital bank Ant Bank and embedded financial solutions provider Bettr have been selected to participate in Hong Kong’... Read more
Visa And BOCHK Tapped For Hong Kong AI Sandbox To Test Agent-Initiated Commerce
Visa has announced that it is partnering with Bank of China (Hong Kong) (BOCHK) in the GenA.I. Sandbox++. With the Visa... Read more
Hong Kong Regulators Pick 36 Agentic AI Use Cases For GenA.I. Sandbox++
The Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), the Insurance Authority (IA), and... Read more
Finloop And Yunfeng Financial Become Latest Anchorpoint Authorised Distributors
Finloop and Yunfeng Financial have joined Anchorpoint’s HKDAP stablecoin beta access programme as authorised distribu... Read more
Standard Chartered Becomes First Bank To Distribute HKDAP Stablecoin
Standard Chartered Bank (Hong Kong) Limited (SCBHK) has become the first bank distributor of HKDAP, the Hong Kong dolla... Read more
Lianlian DigiTech Profit Doubles In H12026, Agent Wallet Pushes To Address Payment Needs
Lianlian DigiTech Co., Ltd, a payment service provider headquartered in China, reported its interim results for the fir... Read more