Airport Authority CEO and Executive Directors Take Voluntary Pay Cut

posted on 9th April 2020 by Eddie Saunders
Airport Authority  CEO and Executive Directors Take Voluntary Pay Cut

The Chief Executive Officer and Executive Directors of the Airport Authority (AA) will take a voluntary pay cut of 20% for 6 months starting from April this year.

The entire aviation industry is facing unprecedented difficulties because of the COVID-19 pandemic. The AA is also seriously impacted by a significant revenue shortfall because of the plummet in passenger traffic. While we are taking active measures to address the cash flow issues of the AA, all six Executive Directors and I, on our own initiative, will take a pay cut, as our message to the entire airport community that we share the sufferings everyone is going through, and that we are all in it together,” said Fred Lam, CEO of the AA.

This exercise does not include the Chairman Mr Jack So as he has donated all his Chairman’s remuneration to AA staff’s children scholarship since taking up his post.