Jabewar
25th Sep 2005, 05:19
Saw this on the FI site. Anybody know what this works out to in actual dollars and cents.
MAS pilots secure 25% pay rises
Flight Internatiomnal online news 09:00GMT: Malaysia Airlines’ (MAS) pilots have secured sizeable pay rises in new contracts that run through August 2007 as the national carrier tries to keep its cockpit crew from joining other airlines.
The state-owned carrier says it has signed a memorandum of understanding (MoU) with the MAS Pilots’ Association (MAPA) “for revised terms and conditions of employment” for 1,254 pilots based in West Malaysia and the states of Sabah and Sarawak.
It says the agreement, signed on 9 September, has been backdated to 1 September last year and will be valid until 31 August 2007.
“The deal…includes significant upward revision in basic salary averaging 25%, a maximum 60% increase in the productivity allowance and retirement at 60 years,” it says.
“We hope the new MoU is well appreciated by MAPA. More important than the improved financial offers in the MoU are commitments to a framework of co-operation where the company delivers good management and the pilots good performance.”
MAS has admitted in recent years that its salaries have fallen below those of many other major airlines. As a result many of its pilots have quit to join other carriers, particularly those in the Middle East with aggressive expansion plans and more attractive employment packages.
NICHOLAS IONIDES/SINGAPORE
MAS pilots secure 25% pay rises
Flight Internatiomnal online news 09:00GMT: Malaysia Airlines’ (MAS) pilots have secured sizeable pay rises in new contracts that run through August 2007 as the national carrier tries to keep its cockpit crew from joining other airlines.
The state-owned carrier says it has signed a memorandum of understanding (MoU) with the MAS Pilots’ Association (MAPA) “for revised terms and conditions of employment” for 1,254 pilots based in West Malaysia and the states of Sabah and Sarawak.
It says the agreement, signed on 9 September, has been backdated to 1 September last year and will be valid until 31 August 2007.
“The deal…includes significant upward revision in basic salary averaging 25%, a maximum 60% increase in the productivity allowance and retirement at 60 years,” it says.
“We hope the new MoU is well appreciated by MAPA. More important than the improved financial offers in the MoU are commitments to a framework of co-operation where the company delivers good management and the pilots good performance.”
MAS has admitted in recent years that its salaries have fallen below those of many other major airlines. As a result many of its pilots have quit to join other carriers, particularly those in the Middle East with aggressive expansion plans and more attractive employment packages.
NICHOLAS IONIDES/SINGAPORE