South Asia airline Cathay Pacific Airways Ltd has announced increments for their employees as the aviation company expects to reach its pre-pandemic numbers by 2023.
As per the announcement by outgoing CEO Augustus Tang, the employees will be provided with an increase in base pay by an average of 3.3% in 2023. Along with the base pay, the provisions of productivity-related pay, monthly allowances and children’s education allowances would be available too. The increment is a far cry from the pay cuts the employees experience, amounting to 58% in 2020 during the pandemic days.
As per the announcement, the company will also offer bonuses worth one month’s salary to the Hong Kong-based staff, who will meet the performance targets.
The latest move comes at a time when the company works to rebuild its capacities that were cut during COVID-19.
Tang said that Cathay has moved from 'survival' to 'recovery' and he is so grateful for the collective efforts of all of the employees as they work together to regrow Cathay, Reuters reported.
The airline expects to reach 70% of pre-pandemic passenger capacity by the end of 2023, up from just 33% by the end of this year as it trains its pilots and reactivates aircraft for the incoming load.