The new agreement, which runs until 30 June 2008, provides the Rex Engineering staff with new profit share and share gift arrangements along with a 2.5 percent annual wage increase.
The engineers join the Rex pilots and flight attendants in accepting a lower fixed salary increase in exchange for a stake in the upside potential if the company does well. Adding non EBA staff, the inclusion of the engineers means that almost 80 percent of all Rex staff have committed to the Profit Sharing Scheme.
“This is a significant outcome for the staff and the Company, “Geoff Breust, Rex’s Managing Director said.
“In moderating their fixed annual wage and salary increments and agreeing to a stake in the Company’s results, the Rex staff have unequivocally demonstrated their commitment to and confidence in the company and its future prospects.”
“Having three of our main staff groups, pilots, flight attendants and engineers adopt this approach is quite unique to the aviation industry. We believe it is yet another sign of Rex’s bright future.”
Media contact: Aneesha Pakvasa 0418 464 042