LIAT: Pay cut not deep enough
Cash-strapped Antigua-based regional airline LIAT says that despite pilots and its workers across all its destinations agreeing to a six per cent salary cut, the airline is still facing a severe financial problem and may require additional salary cuts from its employees.
According to an internal document seen by the Caribbean Media Corporation(CMC), following a shareholders’ meeting in St. Vincent and the Grenadines last Friday, the regional airline said that the six per cent cut did not go far enough.
“The shareholders are of the view that this proposal did not go far enough and that the six per cent cut did not meet the immediate cost reduction objectives of the company at this time.”
The document said the shareholders are “considering additional measures to address the financial challenges of the airline and that it would continue to update staff on discussions and the proposed measures that will be agreed upon”.
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