Dubai : Gulf Air declares early retirement scheme
Dubai: Bahrain-based Gulf Air yesterday announced an early retirement package for Bahraini and Omani employees. The opportunity will be available until June 21, an e-mail statement said. « Bahraini and Omani employees have the choice of a cash-only benefit that includes three months’ salary plus one month salary for each complete year of service, » it said. « Or, for staff with more than 10 years service in Gulf Air, the option to choose cash and benefits including 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. » Fewer expatriates 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. Gulf Air Chairman Mahmoud Kooheji reaffirmed that pilots and cabin crew need not fear job cuts. The assurance came as Kooheji announced that an improved pay package for Gulf Air pilots has been developed and will be presented to the company’s board next Wednesday.