After Wizz Air failed to persuade the Danish pension fund Akademiker Pension that it was taking substantial steps to address recurrent concerns about how it treats its cabin crews, the Danish pension fund Akademiker Pension stated today that it has sold its shares in the London-listed low-cost carrier Wizz Air.
“The Akademiker Pension case demonstrates how investors are increasingly focused on governance requirements and social issues, such as how cabin crews are treated,” stated Annette Groeneveld, President of EurECCA.
The Akademiker Pension action also underlines whether the company's business model is compatible with respect for fundamental rights at work.
As the airline industry recovers from the Covid-19 sanitary crisis, Europe's labor market rules are tightening, and some airlines seem to take advantage of this situation to degrade working conditions and wages.
EurECCA welcomes The Akademiker Pension’s courageous stance against a management that only focuses on productivity to the detriment of social dialogue.
EurECCA represents, protects and develops the rights and needs of all cabin crew all over Europe
About EurECCA: established in Brussels in 2014, the European Cabin Crew Association, EurECCA, represents, protects and develops the rights and needs of cabin crew all over Europe. It is composed of cabin crew unions from European Union Member States as well as accession and bordering states and represents some 33,000 cabin crew accounting for 70% of all organized cabin crew in Europe. EurECCA has no political connections. EurECCA’s work is around Cabin Crew working conditions, wages, social protection and health and safety at work.