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: 363.90

Chg: 4.10

Chg %: 1.14%

Date: 16:31

FTSE 100 Quote

Price: 6,824.18 Chg: 3.86 Chg %: 0.06% Date: 16:29

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
Weir Group 2,706.00 2.54 17:08
Anglo American 1,562.00 2.53 17:10
Tesco 230.70 2.37 17:06
Hargreaves Lansdown 1,139.00 1.97 17:04
Aviva 525.00 1.94 17:02

FTSE 100 Top Fallers

Name Last Chg.% Time
Royal Bank of Scotland Group 351.50 -2.44 17:08
Randgold Resources Ltd. 4,989.00 -1.85 17:06
IMI 1,329.00 -1.85 17:06
Royal Mail 440.00 -1.74 17:06
Barratt Developments 362.50 -1.74 17:02