Finnair reaches accord with flight crew over cost-cutting plans

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By TESTCustomwebLP TESTCustomwebLP September 9, 2014 21:44

Finnair reaches accord with flight crew over cost-cutting plans

Finnair and the Finnish Air Line Pilots’ Association (SLL) have reached an agreement in their negotiations related to Finnair’s ongoing cost-cutting programme.

The agreement will save Finnair up to €17 million annually. In return, Finnair has given pilots protection from redundancies for the next two years.

The savings agreed with SLL were mainly reached through changes to salary and rostering practices.

Finnair CEO Pekka Vauramo said: “We are pleased that in this difficult situation we were able to negotiate a savings agreement with the pilots. The majority of the savings would materialize on a quick schedule, which is essential in Finnair’s current financial situation. I wish to thank the members of SLL for their responsible contribution to the realization of the agreement. I know that the agreed CLA changes are not easy for anyone. The agreement is a great display of pilots’ commitment to their company and its future.”

”We wanted to offer pilots protection against redundancies for the next two years as a compensation for the savings. Considering the situation of the world economy and our industry, such a long protection period is exceptional,” Vauramo added.

In October 2012 Finnair began a €60 million cost savings programme in addition to the €140 million cost savings programme begun in August 2011, mainly in personnel-related costs.

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By TESTCustomwebLP TESTCustomwebLP September 9, 2014 21:44