SIA - Profits,Pay Cuts and Shareholders.
In their recent report SIA stated that the sale of an engineering facility and the method by which they write-down the value of their aircraft could not be seen as ongoing factors in the balance sheet and not, therefore, eligible to be considered for a bonus, so, this year, no bonus.
Have the staff at SIA, who received mandatory pay cuts and loss of annual increments etc., been assured by the management that shareholdes dividends will also not be calculated using those two extraordinary items?
Have the staff at SIA also been assured that the monies retained by the company from their pay and increments will not be used in calculating shareholder dividends?
Taking money from the staff to give to shareholders would certainly be immoral, if not criminal. ALPA(S) may want to consider this an issue they should take to court?