Login/Register

Iberia pilots offer significant salary cuts

International

Iberia pilots offer significant salary cuts

Mon, 17 December 2012
Article viewed 4 times
International Consolidated Airlines Group SA (CDI) Quote more

Price: 341.70

Chg: -2.50

Chg %: -0.73%

Date: 08:56

FTSE 100 Quote

Price: 6,766.33 Chg: 10.85 Chg %: 0.16% Date: 08:56

Pilots at Spanish airline Iberia, operating under International Airlines Group (IAG), have offered to lower their salaries by a half in order to save the company, Europa Press reports.

Ignacio Gordillo, lawyer for pilot union Sepla, explained that the union offered to lower salaries for new pilots by 50% and to lower flight crew operation costs by 58% in order to lower hourly flight costs from €638 to €258 in short and medium-haul flights.

Sepla's proposal includes measures to improve productivity by 10%. Iberia officials and pilots will meet this week in order to study the possibilities.

Shares were up 3.05% at 179p by 14:35 in London.

CPO

FTSE 100 Top Risers

Name Last Chg.% Time
AstraZeneca 4,368.50 1.95 08:54
Schroders 2,357.00 1.16 08:54
Carnival 2,301.00 1.14 08:54
Petrofac Ltd. 1,152.00 1.14 08:54
Morrison (Wm) Supermarkets 176.60 1.03 08:54

FTSE 100 Top Fallers

Name Last Chg.% Time
Fresnillo 948.50 -2.47 08:54
ITV 208.00 -1.42 08:54
easyJet 1,322.00 -1.27 08:54
Randgold Resources Ltd. 4,934.00 -1.26 08:54
Admiral Group 1,310.00 -0.98 08:54