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Old 22nd Feb 2002, 12:39
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thegypsy
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I thought Branson was trying to get out of taking these A340-600.

Perhaps the large Pay Cut in S.I.A. throughout the company means they can now pay for them!!???

This paycut was basically imposed on staff after the magnificent gesture by the SIA CEO Dr Cheong taking a 15% Paycut , having awarded himself a huge increase the year before and having been responsible for single handledly losing $2 BILLION through his reckless investments in Virgin and Air New Zealand. Lets not forget he would have lost a further $300 MILLION if he had had his way and got 50% of Ansett which he was pipped to the post by ANZ having the first option!!!

In any other part of the world he would now be spending more time with his family, but he cannot lose face so he persists in saying his strategy in investing in minority equity stakes in other Airlines is the right one. Has he ever heard of SWISSAIR????!!!!
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