20th Mar 2020 07:00
(Alliance News) - British Airways, a unit of International Consolidated Airlines Group SA, is to cut the basic pay package of its pilots in an effort to curtail costs following grounding of operations due to the coronavirus pandemic, the Financial Times reported Friday, citing a letter sent to the company's staff.
According to the newspaper, British Airways pilots are to be hit with a 50% pay cut to their basic salary for April and May, split over three months. The agreement with pilot unions Balpa will see BA's 4,500 pilots required to take two weeks of unpaid leave in each of April and May, with a deduction from basic pay spread over three months.
Willie Walsh, the chief executive of IAG, has taken a 20% pay cut for the remainder of his employment contract until the end of June, FT reported. The bosses of IAG’s other airlines, which include Aer Lingus and Iberia, have also decided to take a salary reduction.
https://www.ft.com/content/cb2d519a-6a24-11ea-800d-da70cff6e4d3
By Tapan Panchal; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
International Airlines