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[Travel News]: Hong Kong Airlines launches wide restructuring bid, grounds A320 fleet but holds off on job cuts

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The following is the [Travel News]: Hong Kong Airlines launches wide restructuring bid, grounds A320 fleet but holds off on job cuts from [SCMP] recommended by TheTourAttraction.com:

A source says however that if the ailing carrier ultimately has to axe jobs, up to 40% of staff will be made redundant.

Hong Kong Airlines informed staff on Wednesday it would launch a wide restructuring but held off on immediate job cuts.

In an internal memo on Wednesday, the ailing airline introduced a voluntary long-pay leave scheme, offering staff the option to take six months off in exchange for one months’ pay, or nine months’ leave with two months’ pay.

Subsequent redundancies would depend on how many employees opted for the scheme, a source familiar with the situation said. If job cuts ultimately came into effect, between 30 and 40% of staff could be asked to leave, the source added.

The airline also stated that eight widebody Airbus A330 planes would be used mostly for cargo flights, while its 12 short-haul A320 planes would be grounded for a year from July, confirming an earlier Post report.

The carrier, backed by the bankrupt HNA Group, said it would move out of its main headquarters in Tung Chung to its training centre at Hong Kong International Airport in Chek Lap Kok to cut costs amid the merger and consolidation of departments.

A new pilot contract will also be introduced and unpaid leave extended.

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