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Benzinga
Benzinga
Business
Shivani Kumaresan

Cathay Pacific Plans To Lure Pilots With Special Allowances: Bloomberg

Cathay CPCAY Cathay Pacific Airways Ltd Covid-19 Hong Kong
  • Cathay Pacific Airways Ltd (OTC:CPCAY) (OTC:CPCAF) has come up with a slew of allowances for pilots to curb mass resignations, Bloomberg reported.
  • The pilots operating in Hong Kong are seemingly upset about the effect of the country’s stringent COVID-19 policies on travel.
  • The report noted that starting in 2023, senior captains will get a monthly allowance of HK$36,000 ($4,590), amounting to HK$432,000 annually.
  • The airline has also allotted school fee allowances totaling HK$100,000 per child for up to three children.
  • At the end of 2021, Cathay employed 16,721 people, the least since 2005.
  • Price Action: CPCAY shares closed lower by 1.48% at $4.67 on Wednesday.
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