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Iberia pilots offer significant salary cuts

International

Iberia pilots offer significant salary cuts

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

Price: 651.00

Chg: -1.50

Chg %: -0.23%

Date: 17:00

FTSE 100 Quote

Price: 7,523.04 Chg: -19.83 Chg %: -0.26% Date: 16:54

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