Aer Lingus pilots cost EUR20m; CARRIER PLANS TO SLASH WAGES OF VETERAN FLYERS.Byline: CLAIRE BRENNAN THE sky-high salaries of top Aer Lingus Aer Lingus is Ireland's national airline. Based in Dublin, it operates 41 Airbus aircraft serving Europe, Africa, North America and the Middle East. The airline is 28% owned by the Irish government; it was floated on the Dublin and London Stock Exchanges on 2 October 2006, pilots have soared to EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 300,000 each as the company's profits continue to nosedive nose·dive n. 1. A very steep dive of an aircraft. 2. A sudden, swift drop or plunge: Stock prices took a nosedive. Noun 1. , it has emerged. Figures show the cash-strapped former national carrier is forking out EUR20million a year on the wages, perks and expenses of a group of 66 senior pilots. Last week the company revealed losses of EUR93million for the first six months of the year and they now plan to slash the salaries of their high-earning staff in a bid to recoup costs. The troubled firm has already achieved savings in pay and conditions for their short-haul pilots. And an internal committee, including chairman Colm Barrington, has plans to tackle the goldplated contracts of their more experienced staff. Veteran flyers are also protected by a seniority list enforced by trade unions that ensures Aer Lingus cannot place rookie captains on lucrative long-haul routes. But these perks could be butchered by cost-cutting measures which will target the contracts of high earners. Bosses want to re-negotiate the 21% contribution to pension, which can cost the ailing firm more than EUR52,000 per pilot, per year. The airline is also hoping to cut down on smaller costs, including dry-cleaning bills for uniforms. The Irish Pilots Association is expected to fight any attempt by the partly stateowned company to cut pay or terms and conditions for high-paid staff. Last week, four pilots began High Court proceedings against the airline over failing to pay an increment To add a number to another number. Incrementing a counter means adding 1 to its current value. due this year. Trade union reps said the case meant they cannot comment on pilots' wages. They believe a deal signed last year should save senior employees from any cost-saving initiatives until 2011. Aer Lingus pilots are nursing heavy losses from plummeting share prices. Up to 500 flyers who bought stocks for EUR3 a piece lost up to EUR40,000 each in 2006 when prices dropped to 53c a share. Aer Lingus were not available for comment yesterday. LIVING THE HIGH LIFE SOME of the perks enjoyed by long-haul pilots include: Average annual salaries of up to EUR250,000. A huge pension fund, to which the company contributes 21% of their wage packet every year. A EUR160-a-day cash allowance for all pilots and cabin crew cabin crew cabin n (Aviat) → équipage m on trans-Atlantic flights. No receipts required. Rostering practices make it almost impossible for the airline to require pilots to work more than 600 hours a year - the equivalent of 75 average working days. Long-haul pilots who work more than 590 hours a year receive massive bonuses. Overnights in five-star hotels. CAPTION(S): COUNTING COSTS Aer Lingus wants cuts |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion