Following earlier news about massive layoffs and cessation of its wholly owned subsidiary, Cathay Pacific confirmed a major restructuring as the pandemic-induced crisis continues to pummel the aviation industry.  As part of the overhaul, Cathay Dragon will cease to operate with immediate effect, the airline said. Cathay Pacific and budget carrier HK Express will swoop up the routes left behind by the regional carrier, subject to regulatory approval.  The company will axe 8,500 positions or … [Read more...] about Cathay Pacific on major restructuring: cash burn ‘unsustainable’