Monarch staff agree to 30% pay cut
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Staff at The Monarch Group have agreed to a 30% cut in pay and changes to terms and conditions as restructure plans get underway.
Supportive discussions and a ballot with union representatives from BALPA and Unite found more than 90% voted in favour, with a high level of staff voting.
Pilots voted 96% in favour, with more than 90% of cabin crew agreeing and engineers 88.43% in support.
They have agreed to the pay drop as well as changes to working patterns alongside other conditions.
Andrew Swaffield, Monarch Group CEO said: “This vote represents another step forward in our efforts to transform Monarch and demonstrates a commitment from every member of the Monarch workforce.
“Yesterday we made a major announcement that Greybull Capital is the preferred bidder for Monarch. Today’s news that staff accept changes to their terms and conditions, including considerable reductions in salaries, is a further, significant step in our efforts to complete our proposed transaction.
“Further hurdles are still to be overcome, however we have also secured major agreements with aircraft lessors and commitments on future investment from Greybull. This is firm progress for Monarch, its employees and for its customers.”
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