Managers and pilots of Air Berlin agreed on salary reduction

Airberlin

AirberlinThe managers and pilots of Air Berlin agreed on salary reduction. The German airline is trying to cut costs in the new restructuring program, which should improve its liquidity and cash flows. About 80 executives will receive lower salaries, as their payment rates will be reduced by 5-10%, while pilots will join the new attempt to save the company Air Berlin. A total of 1,250 pilots give up from the 4% increase in wages in 2016. In addition, in the fall they will vote whether to quit from the increase in salaries for next year. Air Berlin, which is 29%-owned by the Abu Dhabi Etihad, is trying to return to profit after years of negative finance statements. The new CEO of Air Berlin Stefan Pichler, looking for options to reduce costs.

The Board of Directors also decided to change the policy regarding extra working hours, which will now be compensated with free time and not an extra charge.

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Viliyana Filipova
My name is Viliyana Filipova and I’m working as content writer and analyst of Business News Feeds Journal. I'm writing about finance statements, business analyze and employment for Central and Eastern Europe, Russia and Middle East.

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