|FOR IMMEDIATE RELEASE||5 December 2013|
Cathay Pacific Airways today announced that it will award a pay increase to eligible Hong Kong-based employees for 2014. The carrier will also provide a discretionary bonus payment for 2013, based on one month's salary, to eligible staff in their December salary payment.
More than 90% of Hong Kong staff will receive a pay increase averaging 4.5% for 2014. This is higher than the increment senior staff will receive, reflecting the impact that changes in the cost of living have on staff in different salary bands.
The salary increases apply to all eligible local Cathay Pacific ground staff and cabin crew.
Cathay Pacific Chief Executive John Slosar said: "While our business has seen some improvement compared to the previous year, 2013 has still been a challenging year for our airline. High fuel prices and a protracted slump in the global air cargo markets have continued to have an impact on the overall business situation.
"That said, the Cathay Pacific team - the best team in the business - continued to do an admirable job, and we are pleased to be able to reward eligible staff with the discretionary bonus and salary increment for 2014. As a responsible employer, we strive to balance the need to reward our people equitably and competitively with the airline's overall financial situation. In considering the salary increase we have taken into account factors such as the state of the Hong Kong labour market, changes in the cost of living, the company's business performance and future prospects, and the views of staff representative groups."
Mr Slosar added that despite the challenging business situation, Cathay Pacific has continued to make significant long-term strategic investments in the airline and Hong Kong. "We will always be driven by the need to maintain the quality of our products and services and a desire to give customers more reasons to choose to fly with us. And we are also driven by our ongoing commitment to Hong Kong - our home for the past 67 years."
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