As part of the finalised contract China Southern Airlines are insisting that all Captains undertaking the transition training to B777, B787 or A330 must have either a bond or bank guarantee to the value of USD 22,000 in place. This bond/bank guarantee will be held and returned to Captains on completion of the 2 year contract. If a Captain terminates his contract before the end of the two year contract the following penalties will apply.
· If less than 6 months is worked the USD 22,000 will be paid to China Southern Airlines.
· If more than 6 months but less than 12 months is worked USD 19,000 will be paid to China Southern Airlines.
· If more than 12 months but less than 18 months is worked than USD16,000 will be paid to China Southern Airlines.
· If more than 18 months but less than 24 months are worked than USD13,000 will be paid to China Southern Airlines
This bond or bank guarantee will need to be in place before Captains begin on assignment
Last edited by Utrinque; 14th Oct 2013 at 11:10.