Majority of Cathay Pacific pilots, cabin crew accept pay cuts
Majority of Cathay Pacific’s pilots and cabin crew have accepted and signed new contracts resulting in permanent pay cuts, the Hong Kong airline said on October 30.
The embattled carrier announced 5,900 job cuts as well as the shutting down of its regional airline Cathay Dragon last week as part of its latest cost-cutting measures to cushion the impact of the COVID-19 pandemic.
For the pilots and cabin crew who were spared the axe, Cathay Pacific is seeking changes to their contracts that would cost HK$2.2 billion ($284 million).
The employees are given until November 4 to sign the revised contracts and will receive one year of transitional benefits like housing allowances for pilots rather than the two years offered for those that signed up by 28 October.
“We are very grateful that a majority of our pilots and cabin crew have already signed up to the new conditions of service,” the airline said in a statement.
“We would like each and every one of our pilots and cabin crew to join us and be part of Cathay Pacific’s future.”