A meeting was held on Friday 6th March to discuss pilot redundancies within the "Cathay Group of Airlines".
A number of points were discussed.
1. KA and it's future if any. Much easier to merge with "Express" ( the new preferred name id "Cathay EXPRESS" ) in a larger, leaner low cost entity.
2. Last in, first out.
3. Voluntary or involuntary redundancy ( see 2 above ).
4. Compensation. Follow the HKG Govt guidelines of after 10 years service 1 month for every year served plus 3 months. So 20 years service you get 20+3 months. Less than ten you get the contractual 6+3 months. OR years service remaining plus 3 months whichever is the lower. So say a pilot has done 30 years with 5 to go before normal retirement then the offer would be 60 months + 3 vs 30 +3. The lower being 33.
5. Tax free or not tax free.
6. Return to service. Last in first back or not.
7. Close all bases.
8. Forced redundancy with minimum payout ie 6 months plus 3.
In a mailbox near you by end of March.