Cathay Pacific urges all employees to voluntarily take three weeks of unpaid leave between 1 March and 30 June.
About 27,000 staff from the frontline to senior managers are encouraged to take part in the "special leave scheme" to mitigate the financial stress of the airline.
"I am appealing to each and every one of you to help," said CEO Augustus Tang Kin-wing.
He also citied the fact that the airline is facing a "significant" drop in demand for flights caused by the coronavirus.
The total number of flights will be reduced by 30% over the next two months, with 90% of flights to mainland China being halted.
"Preserving cash is the key to protecting our business," Tang said.
The airline also took similar measures amid the global financial crisis and the 2003 outbreak of SARS.
Photo/ Cathay Pacific