View Full Version : SIA Profits recover
capt2ezy
29th Oct 2003, 21:04
i see that SIA has paid out $41 million to retire staff early etc but saved $135 million in costs doing so.
profits now forcast to be $558 million for yr ending march/04.
pilots form next month no longer forced to take the 2 days per mnth unpaid leave also.
however none of the paycuts are to be restored!!!!!!!!
i thought if profits hit over $300 million you guys went back to old pre-cut salary levels??
millerscourt
29th Oct 2003, 23:47
SIA profit to 30th Sept just announced $305.8 Million!!!! Forecast for whole year now up to around $800 Million from $558 Million yesterday!!!!
Yet again SIA have shown how they treat ALL of their staff by not immediately putting employees back on their previous salaries.
Got to pay major shareholder ( Government) their whack and to hell with everyone else.
jubilee773
30th Oct 2003, 13:26
Impressive, profit of $305.8 million! Well-done SIA! :ok: Maybe it is the time to reimburse their staff salaries. :rolleyes:
In an act of good faith the forced no pay leave has been terminated. So very nice of them - wouldn't you say. Un-confirmed that about 6 400 captains resigned last month - any news on that? It is truly incredible how the profits are mounting - one has to imagine what sort of reasons and excuses the management are going to use to justify not re-instating the pay cut?
cpt744
30th Oct 2003, 15:17
CDRW,
Yes it's confirmed that at least 5 Capts to date have resigned though not all are from 744. Some from 777 are leaving too since this time round they(the highest level of SQ management) has way passed the line.. More should be resigning in the next 3 months as interviews are on going and those who had gone for theirs are just simply waiting for confirmation of work permits from the other carriers.
This disgusting practice of not reinstating staff salary despite positive confirmation of profit is just appalling.
Let see what Sin Inc gonna react on this round, perhaps they will buy over CAL majoity stake and continue their pursue in shafting all ex SQ pilots..
cpt747,
Well at least the men are voting with their feet. If you don't like it - get out. So they are. Sounds like you are in the know - will enough be on their bikes to actually make a difference?? Did hear a good comment down line that if SQ management ask CAL or EK to perhaps "refrain" from employing their pilots the answer may very well be - "we'll look after our pilots, you look after yours".