Cathay asks crew to volunteer for early retirement
HONG KONG (AFP) - Hong Kong flag carrier Cathay Pacific on Tuesday asked its cabin crew to volunteer for early retirement as part of its cost-cutting measures to boost profitability amid a global slowdown.
Cathay has been trying to trim costs after it fell into the red in the first half of 2012 with a HK$935 million (S$148 million) loss, partly due to high fuel prices that have also dragged down other regional airlines' performance.
The airline said the scheme would be offered to flight attendants who joined the firm before September 1996, to cut cost as well as to help facilitate recruitment and promotion opportunities.
"It is also part of the airline's cost management measures," a spokesman said in a statement to AFP, adding that the airline has not set any target on the number of flight attendants that it hopes would sign up for the scheme.