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Old 31st Jul 2009, 05:08
  #41 (permalink)  
 
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As a group, SIA's net loss was S$307.1 million for the three months ended June 30, compared to a net profit of S$358.6 million a year earlier.
I'm afraid it's a sign of the times, it's either that or redundancies, a temporary drop in salary is a common 'Solution' worldwide with many companies, it's better to take a drop in pay than loose your job, sad to say, but that's the way it is.
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Old 31st Jul 2009, 06:37
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Agreed

Bett to have 90% of the loaf then none of it. But if SQ which is really an airline that appears to have its act together is suffering then those who dont have their act together are in world of hurt. And I am not referring to air bucket shop but rather the legacy and flag carriers.

Not good times in the industry and not sure when they will get better.

Hang in there
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Old 31st Jul 2009, 07:47
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Out of interest. What was SQ's staff profit sharing (or bonus) scheme like when times were good..?
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Old 31st Jul 2009, 07:49
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6-8 monthly salaries.
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Old 31st Jul 2009, 08:14
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It's more like 2-6 mths. Never remember we had more than 6.
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Old 31st Jul 2009, 08:18
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In CX my tax return this year shows that I've earned 17% less than what I earned 3 years ago for the same job.
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Old 31st Jul 2009, 08:19
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At the time of SARS they got back the cut

The result surprised analysts who had forecast SIA to post an annualised profit of 665 to 720 million dollars, and led to a profit-sharing bonus for staff who were forced to endure pay cuts because of SARS.

The airline's staff, who had taken pay cuts of up to 15 percent, will get a one-off lump sum payment to fully reinstall the slashed wages, plus 15 percent, and a further bonus of 2.05 months' salary, as per an agreement brokered with unions last year.
source
Singapore Airlines profits records 493 million dollar profit
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Old 31st Jul 2009, 19:53
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It's more like 2-6 mths. Never remember we had more than 6.
They had a profit sharing bonus of 6.1+ months just last year. And if you add in the 13th mth bonus, that is a 7.1+ mths bonus for the year of 2008. There was also a similar windfall sometime in 2001 or 2000.
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Old 1st Aug 2009, 09:55
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The bonus also depended on where about in the world you were. I know in London the most I remember was about 3-4 months, whereas in SIN it was more.

Those were happy days and I hope for all my ex-collegues that things will get better! A great airline to work for and I am confident that they will ride through this storm.
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Old 25th May 2011, 12:05
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Flight Global is reporting that Singapore are planning to set up a new medium/long haul lo cost subsidiary (a la Air Asia X by the sound of it). My first thought is that they might use the 330s that will presumably start to be freed up by the arrival of their 787s next year. Only doubt is that they are planning to serve Europe which I doubt the 330-300s would have the legs for.

A thread about Manchester on another forum implies changes (but not withdrawal) are in the pipeline for the MAN SQ service - could be related to this I guess?
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Old 30th Mar 2019, 12:49
  #51 (permalink)  
 
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Crazy Rich Asians

A fabulous book and a film - but why did SQ opt not to be the featured airline in the movie as they are in the book?

they had to mock up some ridiculous false airline.....

I'd have thought the publicity was going to be free and massive...........................
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