Hong Kong airport’s CEO and executive team to take pay cuts
Fred Lam, the CEO of Airport Authority Hong Kong (AAHK) has agreed to take a voluntary 20% pay cut for six months as part of the latest measures to help Hong Kong International Airport get through the coronavirus crisis.
“The entire aviation industry is facing unprecedented difficulties because of the COVID-19 pandemic,” explained Lam.
“The airport authority 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 AAHK, 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.”
This exercise does not include chairman Jack So as he has donated all his salary to the AAHK staff’s children scholarship since taking up his post.