| FOR IMMEDIATE RELEASE | 4 December 2014 |
Cathay Pacific Airways today announced that it will award a pay increase to eligible Hong Kong-based ground staff and cabin crew for 2015. The airline will also offer a discretionary bonus payment for 2014, based on one month's salary, which will be paid to eligible staff in their December salary payment.
As in the previous year, staff on a lower salary band will receive a higher increment than senior staff. More than 90% of Hong Kong staff will receive a pay increase averaging 4.5% in 2015, while senior staff will receive an increment ranging from 3.9% to 4.4%. This arrangement reflects the impact that changes in the cost of living have on staff in different salary bands.
Cathay Pacific Chief Executive Ivan Chu said: "We have seen an overall improvement in our business, though the operating environment has been challenging for much of the year. In the first half in particular we were buffeted by high fuel prices, weak cargo demand and continued pressure on passenger yield. As usual, our business has been stronger in the second six months, helped by strong passenger demand in the peak travel seasons, the recent pick-up in the cargo market and the recent reduction in the fuel price.
"Cathay Pacific was named World's Best Airline by Skytrax in 2014, making us the only carrier to receive this honour for a fourth time. Such an achievement would not have been possible without the superb effort of our Cathay Pacific team, and we are happy to reward staff with the discretionary bonus and salary increment for 2015. In considering this latest salary increase we have taken into account factors ranging from changes in the cost of living to the company's business performance and longer-term prospects. And, as always, we have also considered the views of different staff representative groups."
Mr Chu said that Cathay Pacific remains committed to making strategic long-term investments to maintain the quality of its products and services, and to reinforce Hong Kong's role as one of the world's premier aviation hubs. "Backed by our award-winning team, we will continue to take Cathay Pacific - and Hong Kong aviation - to new heights," he said.
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