Gulf Air 'golden handshake' offer for Bahraini, Omani staff
Manama, June 4, 2007
Bahraini and Omani employees of Gulf Air are being offered the opportunity to request an early retirement package. This opportunity opens today (June 4) and will be available until June 21, a statement said.
A telephone information line has been established to assist staff and details have been posted on the airline’s staff website.
Welfare and counselling services are available for staff, should they require them.
The airline has also decided to reduce the number of expatriates in its non-flying operations.
The majority of these departures will occur in accordance with the expatriates’ personal contracts.
The staff affected will be informed personally over the next two weeks.
The chairman of Gulf Air board of directors, Mahmood Kooheji, reaffirmed that pilots and cabin crew shall not fear for their jobs.
“We need and value all of them,” he said.
This confirmation came as Kooheji announced that an improved pay package for Gulf Air pilots has been developed and will be presented to the Gulf Air board next Wednesday.
Bahraini and Omani employees have the choice of:
Three months’ salary plus one month salary for each complete year of service.
Or, for staff with more than 10 years service in Gulf Air, the option to choose
Cash and benefits
• Six months’ salary plus one month pay for each full five years of service,
• A one-time contribution to the GOSI pension plan (maximum contribution of five years, decreasing for employees aged 55-60 for male and 50-55 for female employees) and
• Health benefits for three years at the airline rate.
In any case, the maximum cash pay-out will not exceed the amount of the salary, which could be earned between now and retirement at 60 (for males) and 55 (for females), i.e., the employee will receive the lower of (i) the cash offered and (ii) the salary to retirement.
Each Bahraini and Omani employee will be eligible to apply, but acceptance or rejection will rest with the airline. TradeArabia News Service