Cathay Pacific to lift staff pay by 3.3%, offer bonus – CEO memo

Cathay Pacific Airways Ltd will increase base pay by an average of 3.3 percent in 2023 and offer bonuses worth the equivalent of one month’s salary to Hong Kong-based staff meeting performance targets, its CEO said in a memo. | Reuters

A Cathay Pacific Airways Airbus A350-900 airplane approaches to land at Changi International Airport in Singapore. REUTERS/Tim Chong/File photo

Cathay Pacific Airways Ltd will increase base pay by an average of 3.3 percent in 2023 and offer bonuses worth the equivalent of one month’s salary to Hong Kong-based staff meeting performance targets, its CEO said in a memo on Monday. “We have moved from ‘survival’ to ‘recovery’ and I am so grateful for the collective efforts of all of you as we work together to regrow Cathay,” outgoing CEO Augustus Tang said in a message to staff seen by Reuters.The airline has previously said it plans to hire 4,000 staff over the next 18 to 24 months as it works to rebuild capacity that was cut during the pandemic.

At Cathay, pilot attrition has been higher than normal after more than two years of onerous quarantine norms, combined with permanent pay cuts of as much as 58 percent made in 2020.

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