Nearly all of Cathay Pacific’s pilots and more than 90% of its cabin crew have signed new, cheaper employment contracts, the airline revealed on Thursday.
In all, 2,613 of its pilots and 7,346 cabin crew accepted the take-it-or-leave-it deals, representing 98.5% and 91.6% of the two groups, respectively.
In its announcement, Hong Kong’s flagship carrier also said staff members who refused to sign the new contracts would be leaving the company but receive exit packages that went beyond statutory requirements.
The airline added severance payouts would not be offset against pension contributions.
“We have jobs for every pilot who was offered COS18 [contract] and we wanted a…