comment made by LKY (STRAIGHTS TIMES INTERNET PAGES)
the govt is prepared to accept losses from SIA and associated share value,
BUT will not sacrifice Singapores position as a regional/national Hub.
so it has been said from the top.
SIA WILL BE SACRIFICED .
what i think this will prove to any institutional investors is that singapore is not a free market economy and is not safe to invest in because the govt are prepared to interfere and sacrifice shareholder value to enforce a political point.
the sad thing about this is its entirely unnecessary. by just paying the market rate(like other employers in this industry who are making profits) this could be avoided.
how can investment be made in singapore when such basic business sense is ignored and a flagship company such as SIA will be sacrificed to make an example of a professional group of employees who only want the same terms as other professionals in parallel companies.
LKY and the govt are being very foolish.
they are prepared to destroy SIA which is more than stupid but will do far more damage than that .
they are damaging and undermining business and investor confidence in Singapore.
this is the kind of leadership you have in LKY.
frankly it sucks.
dont let the govt destroy this hugely succesful company for their own selfish political gains.
they are up against the wall on this more than they will ever let on to and i think reasonable results could be achieved for the pilots by alpa-s if you can take the strain.
