Budget 2018-19

  Malaysia’s government will issue a diplomatic protest against an intrusion” by 16   Chinese military aircraft   into its airspace, the foreign minister said Malaysia’s government will issue a diplomatic protest against an intrusion” by 16 Chinese military aircraft into its airspace, the foreign minister said. Foreign Minister Hishammuddin Hussein said late Tuesday that he will summon the Chinese ambassador to explain this breach of the Malaysian airspace and sovereignty.” Malaysia’s air force said its radar picked up the Chinese aircraft Monday near Malaysian-administered Luconia Shoals, a rich fishing ground in the disputed South China Sea. The Chinese planes then moved nearly 60 nautical miles (110 kilometers) off the coast of Sarawak on Borneo island. After attempts to contact the aircraft failed, the air force sent its fighter planes to identify them. It said they were Ilyushin Il-76 and Xian Y-20 strategic transporters, flying at between 23,000-27,000 feet (7,000-8...

  Overall, it will cut 8,500 positions, or 24% of its normal headcount, but that includes 2,600 roles currently unfilled due to cost reduction initiatives SYDNEY (Reuters) – Hong Kong’s Cathay Pacific Airways Ltd said on Wednesday it would slash 5,900 jobs and end its regional Cathay Dragon brand, joining peers in cutting costs as it grapples with a plunge in demand due to the coronavirus pandemic. The airline would also seek changes in conditions in its contracts with cabin crew and pilots as part of a restructuring that would cost HK$2.2 billion ($283.9 million), it told the stock exchange. Overall, it will cut 8,500 positions, or 24% of its normal headcount, but that includes 2,600 roles currently unfilled due to cost reduction initiatives, Cathay said. “The global pandemic continues to have a devastating impact on aviation and the hard truth is we must fundamentally restructure the group to survive,” Cathay Chief Executive Augustus Tang said in a statement. Cathay shares jumped...