Hong Kong’s Cathay Pacific to give out 1 month’s pay for staff bonuses
Cathay Group CEO Ronald Lam says bonus pay is due to company’s robust performance last year
Cathay Pacific Airways will dish out at least a month’s worth of pay to staff for this year’s bonuses on the back of the Hong Kong flag carrier’s strong financial results in 2024.
In a letter to employees on Thursday morning, Cathay Group CEO Ronald Lam Siu-por said the bonus pay was due to the company’s robust performance last year.
“I’m pleased to share that we will be distributing at least four weeks of eligible pay this year. Stay tuned,” he wrote.
The promised bonus pay follows the company’s successful efforts to rebuild after the pandemic, which saw it return to 100 per cent of pre-Covid flight levels this month.
“Our strong financial performance for two years in a row also made it possible for us to commit more than HK$100 billion [US$12.8 billion] in investments into further elevating our customers’ experience in the future,” Lam said.
CEO Lam said last March the company allowed employees to share its profits, with some entitled to up to 7.2 weeks of eligible pay. In October, the group also announced a one-month discretionary bonus to staff.
A spokeswoman of the carrier’s Flight Attendants Union said they welcomed the profit sharing by the company, adding they expected it to hand out more bonuses to staff given the carrier’s completion of its “rebuild journey”.
