Yeah but no but yeah - SQ is losing more money. If passengers are only willing to pay for Air Asia/ Jetstar levels of service on HKG-SIN, then spending money on giving them luxury seats in an A380 just increases your losses...
Looks like at Finnair, the CEO has given up!
Finnair Plc Company Announcement FINNAIR'S PRESIDENT & CEO RESIGNS
FINNAIR PLC STOCK EXCHANGE RELEASE 7 AUGUST 2009 AT 0901
Finnair's President & CEO Jukka Hienonen has resigned from his
post.
My four years in Finnair's service has included both periods of success
as well as the increasingly adverse development of the entire sector, and now a
clear change of course is required. I am not satisfied with the results
achieved; the rate of change has been insufficient, says President & CEO
Hienonen.
Many structures as well as the company's culture have been formed in
totally different conditions. With these we cannot do well in the present
competitive environment, but changing them has proved to be extremely difficult.
Some personnel organisations have shown no willingness to adapt.
Finnair has
a good and effective strategy, on which it would be possible to build future
success. It will require a lot of work and also a completely different way of
thinking in terms of working conditions. Finnair has many expert personnel and
an excellent management team, with whom I have been able to work. I wish to
extend to them my warm thanks.
Finnair's Board of Directors regrets Jukka
Hienonen's resignation.
The decision is entirely President & CEO Hienonen's
own. I am sorry at his decision, because cooperation between Jukka and the board
has always been excellent, says Christoffer Taxell, Chairman of Finnair's Board
of Directors.
Jukka Hienonen continues as President & CEO for the time being.
The period of notice in Hienonen contract is six months. Because Hienonen's
resignation is at his own request, no severance pay will be paid.
Finnair Plc
Communications
7 August 2009