Global insight

Cargolux hands out timely staff bonuses

Cargolux hands out timely staff bonuses

LUXEMBOURG all-cargo airline Cargolux could be on course to generate between €80m and €100m in profits this year, aircargoeye,com exclusively reveals.

All members of staff (1,556 according to the company’s website) have already received early Christmas bonuses of €2,500 each, as part of the air cargo company’s preliminary profits share deal outlined in the Collective Workers Agreement (CWA) 2015-2018, writes Thelma Etim.

Although profits for the current year will not be confirmed until April 2018 – after the airline’s accounts have been audited – employees have been informed of their bonuses in an internal message from Richard Forson, the company’s chief executive, at the start of the peak season – the period during which most airlines generate the majority of their profits.

In his message Forson states: “…I am sure that all of you are feeling the strain of the pace of operations we are experiencing and on behalf of EXCOM we would like to express our utmost thanks and appreciation for your efforts to date.”

The CWA stipulates that Cargolux’s anticipated profits before tax must have reached a minimum of €30m before staff are entitled to a share.

The bonuses come as a welcome antidote to the ongoing palpable discord between flight-deck staff and the airline’s management over employment terms and working conditions, amidst the carrier’s struggle to hire more pilots.

Read more Cargolux stories here

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