In the face of global economic recession, Cathay Pacific Airways experienced a significant decline in profits. The company’s level of profit slipped to HK$916 million in 2012 and the Management announced that there is no bonus for staffs. Despite the employees did not benefit from the overall socio-economic gains, employee are all here in the same boat with the company.
Cathay Pacific Airways lost over HK$900 million dollars in the first half of 2012. Yet, with the joint effort of both employers and employees, Cathay Pacific Airways turned loss into gain. For the past 6-month, flight attendants worked closely with Cathay Pacific Airways’ cost-cutting measures, such as Unpaid Leave; Shortening of flight patterns. When compared to the first two months of 2012, a remarkable growth in turnover was achieved in the first two months of 2013. FAU encourages members to keep up the professional services in the future and sincerely wishes Cathay Pacific Airways flourishing business with the joint effort of all cabin crew.
In 2012, Passenger Services accounted for 73% of the total turnover of the Airline, increased by 3.5% over the previous year. Dora Lai, Chairman of the Union, expressed that frontline staffs have a remarkable contribution to this business success. Frontline staffs are no doubt the valuable asset of the company; therefore, apart from focusing on aircraft investment projects solely, Cathay Pacific Airways is to show more concerns to human resources development. Besides, FAU noticed that renewal of existing Profit Sharing Scheme is needed as the existing scheme is due.
Cathay Pacific Airways is expected to fulfill its corporate responsibility by recognizing the hard work of all staffs and announcement of the updated Profit Sharing Scheme is appreciated to strengthen staff morale and sense of belonging.