Cathay Pacific extends pilot housing allowances for a year

Singapore

HONG KONG's Cathay Pacific Airways said on Monday that it will continue paying housing allowances worth up to HK$100,000 (S$17,300) a month to its most senior pilots for another year, backing down temporarily from a cost-cutting proposal.

The loss-making airline is undertaking a transformation programme aiming for HK$4 billion in savings over three years from lowering costs and boosting productivity.