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Old 11th March 2010 | 11:36
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Numero Crunchero
 
Joined: Oct 2006
Posts: 651
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From: Hong Kong
Some interesting figures

Staff costs were over $12Billion last year. So lets assume it was around $10B for salaries - just for simplicity. Let's also assume we all gave 2 weeks in SLS (not a bad assumption really as the extra 2 weeks salary sacrifice of a Level D or E employee is equal to probably 5-20 Level A staff's worth of 1 week sacrifice - the ratio of Level D/E to Level A is probably very roughly around 10 times)

So using the above assumptions:

SLS saved around $400m.

Paying back 90% to Level D/E probably saved around $10-15m.

The announced dividend of 10cents will give Swire about $160m and the other majority shareholders(CNAC/Air China/CITIC) about $140m.

Tony Tyler's reported 2008 remuneration was $15m


So in summary.

SLS - saved $400m but around $385-390m paid back.
CX pays out almost $400m in the interim dividend ($160m to Swire etc)
Level D/E (predominantly pilots) have $10-15m of their money un-refunded.
Tony Tyler's 2008 remuneration was $15m of which $6m was bonus related.

So not exactly sure what the purpose of holding the 10% back was!?
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