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: 407.30

Chg: -3.00

Chg %: -0.73%

Date: 17:15

FTSE 100 Quote

Price: 6,674.74 Chg: -7.02 Chg %: -0.11% Date: 17:10

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
Associated British Foods 2,962.00 8.82 17:15
Admiral Group 1,408.00 3.30 17:13
Bunzl 1,654.00 2.35 17:13
AstraZeneca 4,042.50 2.08 17:15
Randgold Resources Ltd. 4,700.00 2.06 17:01

FTSE 100 Top Fallers

Name Last Chg.% Time
Antofagasta 796.50 -5.68 17:15
Centrica 330.60 -4.15 17:13
Hargreaves Lansdown 1,197.00 -4.01 17:15
Sports Direct International 797.00 -3.98 16:59
Old Mutual 196.00 -3.92 17:15