Cathay Pacific Airways Ltd to increase employee salaries by more than 3%
2022.11.21 03:53
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Cathay Pacific Airways Ltd to increase employee salaries by more than 3%
Budrigannews.com – Cathay Pacific Airways Ltd will raise its average base salary by 3.3% to 2023 and offer a bonus equivalent to one month’s salary to Hong Kong-based staff who meet performance targets, the CEO said on Monday. said in a note.
“We are going from ‘survival’ to ‘recovery’ and I am very grateful for all your collective efforts to work together to make Cathay grow again,” said CEO Augusta. Sutang said in a message to staff seen by Reuters.
The airline has previously said it will hire 4,000 employees over the next 18-24 months as it works to rebuild capacity that has been reduced during the pandemic.
At Cathay, pilot attrition is higher than usual after more than two years of nasty quarantine rules, with permanent pay cuts of up to 58% in 2020.
Cathay Pacific Airways Ltd said it expects passenger traffic to recover to 65-70%, which was before the pandemic.
The Hong Kong Aircrew Officers Association (HKAOA), which represents Cathay’s pilots, said in a statement that the salary increase, as well as the bonuses, were welcomed but not enough to halt crew evacuations and the airline’s growing training challenges. said not.
HKAOA also expressed concern that some fleet’s flight targets would increase in 2023, resulting in an effective 9% pay cut for some pilots. Cathay did not immediately respond to a request for comment on the matter.
The airline on Friday forecast a “substantial” annual loss, but second-half results are expected to improve sequentially thanks to increased demand for air travel and cargo.
