Login/Register

Iberia pilots offer significant salary cuts

International

Iberia pilots offer significant salary cuts

Mon, 17 December 2012
Article viewed 4 times
Iberia pilots offer significant salary cuts
International Consolidated Airlines Group SA (CDI) Quote more

Price: 584.50

Chg: 12.50

Chg %: 2.19%

Date: 16:55

FTSE 100 Quote

Price: 7,103.98 Chg: 33.28 Chg %: 0.47% Date: 17:14

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

NASDAQ 100 Top Risers

Name Last Chg.% Time
Tesla Motors Inc 231.55 6.01 22:07
Fastenal Co. 42.41 1.87 22:10
Apple Inc. 132.65 1.82 22:10
Akamai Technologies Inc. 77.04 1.72 22:10
Nxp Semiconductors Nv 96.93 1.68 22:10

NASDAQ 100 Top Fallers

Name Last Chg.% Time
Applied Materials Inc. 19.97 -8.39 22:08
Mylan Inc. 71.72 -5.71 22:06
Mattel Inc. 28.80 -4.64 22:06
Vertex Pharmaceuticals Inc. 127.88 -3.99 22:10
Celgene Corp. 114.71 -3.37 22:08