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December 4, 2020 - China Aircraft Services Limited (CASL) today announces significant workforce and cost reduction actions due to the global pandemic and associated travel restrictions, which grind air traffic to a halt and remain a standstill that suffocates the aviation industry with an unforeseeable end. 

The announcement comes with a series of cash-preservation measures, which include: 

· Reducing approximately 160 headcounts, accounting for around 17% of its workforce; 
· Pay cuts for management staff until March 2021; 
· Pay freeze for all employees in 2021; 
· Adjustment on allowance packages; 
· Voluntary Leave Scheme for all employees continues until March 2021. 

“The company does not view this lightly. However, we are in a position to withstand further burdens from the coronavirus pandemic, and expenditure must be reduced correspondingly. We have been reviewing all possible scenarios and doing everything possible to keep our staff,” said Andreas Meisel, Chief Executive Officer of CASL. “This is regrettably CASL’s last resort to sustain and avoid even greater impact to the company. A revised operating size is imminently necessary to reflect the current market situation.” 

The company reiterated that it will continue to deliver professional and reliable services to all of our customers at Hong Kong International Airport, and safety standards will not be affected as safety remains CASL’s top priority. 

About China Aircraft Services Limited 

Founded in 1995, China Aircraft Services Limited (CASL) is a joint venture among China National Aviation Corporation (Group) Limited (40%), United Airlines, Inc. (20%), China Airlines Limited (20%) and Gama Group (Asia) Limited (20%), providing aircraft line and base maintenance, cabin services, ground services equipment and business jet maintenance, as well as supply and storage services at Hong Kong International Airport. 

Air China, China Eastern Airlines, China Southern Airlines and Xiamen Airlines have representations in the company via 40% shareholding of China National Aviation Corporation (Group) Limited in CASL. 

Apart from operating in Hong Kong, CASL and China Eastern Airlines established a joint venture company, Shanghai Eastern Aircraft Maintenance Limited (SEAM) in 2002, providing aircraft line maintenance and ground services equipment at Shanghai Pudong International Airport and Shanghai Hongqiao International Airport. 

By opening its aircraft maintenance hangar at Hong Kong International Airport in May 2009, CASL is capable of providing a higher level of aircraft maintenance services to airline customers worldwide in both aircraft line maintenance and heavy maintenance. 

Media Contact

Corporate Communication
(+852) 2261 2899 / (+852) 2261 2819
communications@casl.com.hk
www.casl.com.hk