Earth calling ALPA-S – Come in Please!
Am I the only member of the SIA pilot force who has noticed that we now seem to have a new formula for calculating the annual bonus, given that it has recently been announced that our latest annual bonus is the equivalent of four month's basic pay?
My own back of a fag packet figures indicated something either side of six month’s basic as being about the right sum, in light of the absolutely record profits that the airline recently announced, viz:
“The SIA Group posted a record operating profit of $1,356 million for the year ended 31 March 2005, nearly doubling the profits earned in 2003-04. This is in spite of challenges caused by high fuel prices and a proliferation of new airline entrants in the local market.
Revenue at $12,013 million, was the highest ever – up $2,251 million (+23.1%) from last year. Expenditure in the same period rose by only 17.3% to $10,657 million.
Net profit attributable to shareholders improved by 63.6% ($540 million) to reach $1,389 million.”
Would Alpa-S luminaries please cut short their trip to the outer solar system, re-enter orbit and brief us on what is going on?