| FOR IMMEDIATE RELEASE | 2 December 2011 |
Cathay Pacific Airways today announces salary increases averaging 5% for eligible Hong Kong staff in 2012. Additionally, the carrier will also provide a discretionary 13th month payment to those same staff in their December salary payment.
Cathay Pacific Chief Executive John Slosar said: "We are likely to face a very challenging year in 2012. Still, we're pleased to be able to provide our team with a pay increase despite that reality.
"This salary increase is a tangible means of sharing our appreciation for our staff's efforts this year. It is also consistent with our pay philosophy. Cathay Pacific takes account of market conditions and the economic outlook of the markets we serve. We of course also look at our business results and the need for our company to be successful and to stay competitive. As always, we work hard to ensure our compensation package is market competitive so that we can attract and retain staff on the Cathay Pacific team.
"We're pleased that our current financial strengths allow us to also continue our investment in our industry-leading product as well. I know that the Cathay team will be working hard in 2012 to show our customers how fantastic the new Cathay Pacific is and to give them a great reason to choose to fly with us whenever they need to travel."
The salary increases apply to all eligible local Cathay Pacific ground staff and cabin crew.
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