Chinese airlines flash the cash to lure foreign pilots
Tuesday, 19 Aug, 2016
0
Chinese airlines are poaching foreign airline pilots with bumper pay and perks, as the industry struggles to meet demand for air travel.
It is estimated Chinese carriers will need to hire at least 100 pilots a week for the next 20 years just to keep up with surging travel demand.
Giacomo Palombo, a former United Airlines pilot, said he is being inundated with lucrative offers to work in China.
Qingdao Airlines has offered Palombo up to $318,000 a year, while Sichuan Airlines weighed in with a salary package of $302,000.
Both carriers said they would cover his income tax bill, Bloomberg reports.
"When the time to go back to flying comes, I’ll definitely have the Chinese airlines on my radar," said Palombo, 32, who now works at consultancy firm McKinsey & Co. in Atlanta.
"The financials are attractive."
Dave Ross, Las Vegas-based president of Wasinc International, which is recruiting for more than 12 mainland Chinese airlines, says they are desperate for experienced captains.
"When we ask an airline, ‘How many pilots do you need?,’ they say, ‘Oh, we can take as many as you bring.’ It’s almost unlimited," Ross said.
The China air market is booming with orders placed for 780 planes worth about $102 billion last year alone.
China will need more than 6,000 new jets over the next 20 years according to plane maker Boeing Co.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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