Tuesday, April 16, 2024

LIAT: Pay cut not deep enough

Date:

Share post:

Cash-strapped Antigua-based regional airline LIAT says that despite pilots and its workers across all its destinations agreeing to a six per cent salary cut, the airline is still facing a severe financial problem and may require additional salary cuts from its employees.

According to an internal document seen by the Caribbean Media Corporation(CMC), following a shareholders’ meeting in St. Vincent and the Grenadines last Friday, the regional airline said that the six per cent cut did not go far enough.

“The shareholders are of the view that this proposal did not go far enough and that the six per cent cut did not meet the immediate cost reduction objectives of the company at this time.”

The document said the shareholders are “considering additional measures to address the financial challenges of the airline and that it would continue to update staff on discussions and the proposed measures that will be agreed upon”.

Subscribe now to our eNATION edition.

For the latest stories and breaking news updates download the Nationnews apps for iOS and Android.

Previous article
Next article

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Trump trial: Dozens of jurors rejected as they say they cannot be impartial

Donald Trump's unprecedented criminal trial has begun with half of a group of potential jurors ruled out within...

Political parties lash out at Haiti PM over council limbo

PORT-AU-PRINCE, Haiti (AFP) — The Haitian parties set to form a long-awaited governing council have called for the...

Celtics draw first blood

Underdogs and first-time finalist C.A.M Smart Assurance City United Celtics registered the ideal start, defeating Burger King Clapham...

Digicel appoints Marcelo Cataldo as Group Chief Executive Officer

Kingston, Jamaica - Digicel Group today announced Marcelo Cataldo as its new Group Chief Executive, effective 1st May...