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CY extends pilots’ wage cuts
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CYPRUS Airways (CY) management has decided to extend the duration of a 9.0 per cent cut on pilot’s salaries, it emerged yesterday, prompting more protests from the disgruntled aviators.
The pilots’ union PASYPI said they were informed of the “unilateral and arbitrary” decision on Friday.
Pilots have already accused the airline’s current management of being incapable of putting the ailing company back on track.
“The company’s bad financial condition was suggested as the excuse for this unacceptable and provocative action,” PASYPI said in a written statement.
Pilots had agreed to a 9.0 per cent pay cut for 2011, as part of a wider restructuring plan to save the airline.
They warned that such unilateral actions “will not be accepted” and urged the government to intervene and restore order in the national carrier.
The government currently owns 69.57 per cent of the company, while the remaining 30.43 per cent is owned by private investors.
Last week, pilots demanded control of the airline be turned over to a strategic investor through transparent procedures.
Government spokesman Stefanos Stefanou said yesterday that it was a matter the administration was working on.
“The finance ministry in cooperation with the CY leadership is working towards this direction,” he told reporters, warning however that the current environment was not the best for airlines.
“But, we will continue our efforts regardless,” the spokesman said.
