Dragonair was rebranded as Cathay Dragon in 2016. But in October 2020, Cathay Pacific announced that Cathay Dragon would cease operations. This came about as a result of the extreme slowdown in aviation. Cathay cut 94% of all flights, and at the worst, it flew only 582 passengers in a single day. However, regional traffic had already begun to suffer from increased airline competition in Hong Kong and improving high-speed rail services to China.