HONG KONG (BLOOMBERG) - They are both critically important to their domestic economies, highly regarded by customers and totally reliant on international travel. They are also in deep financial strife and shedding thousands of jobs because of the coronavirus crisis. Cathay Pacific Airways and Singapore Airlines (SIA) have stood out for over half a century as aviation powerhouses, prestigious brands atop a lucrative market fueled by Asia's economic boom. The pandemic has severely hurt the pair, but Hong Kong-based Cathay is likely in a tougher spot, analysts say. Cathay announced on Wednesday (Oct 21) that it is laying off nearly 6,000 people and eliminating 2,600 vacant positions, which combined amount to about 24 per cent of its total workforce. It is also shuttering regional airline Cathay Dragon and redoing contracts for pilots and cabin crew. The goal is to reduce unsustainable cash burn by HK$500 million (S$87.4 million) a month. "In these straitened times, we must focus on a single world-leading premium travel brand - Cathay Pacific - complemented by a single low cost leisure travel brand - HK Express," Cathay chairman Patrick Healy said Wednesday, referring to the budget car...