GLOBAL - Qantas has reached an ‘in principle' agreement with the Australian Services Union over pay, conditions and superannuation contributions.
If the agreement is endorsed by members, an annual wage increase of 3% and other benefits will come into effect in January 2008.
Geoff Dixon, CEO, Qantas, said: “As a result of these discussions Qantas had decided to increase company superannuation contributions for all employees in accumulation funds to no less than 10%.
“Employees in defined benefit schemes will also be able to salary sacrifice their employee contributions.”
In Europe, Air France announced it had undergone a strong first half of 2007 and had been able to make a one off, voluntary payment of €198m (US$293m) to its pension fund to reduce commitments.
The Air France group pension scheme assets stood at €2.5bn (US$3.7bn) at 30 September, 2007.
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