SIA Profit Sharing

[John Barnes]

Hot of the needle:
SIA announced it's profit sharing at 17.00 lt Sin which is 6.04 month of salary for this year. Management also concluded and signed the outstanding salary problems with the Tech crew wich will result in quite a substantial backpay for the pilot group in general, older expats in particular. I bet you that this finacial package suddenly makes the company look like a rose. ( the bad smell might linger a little longer ) Wonder what some of the tax bills is going to be for the older guys with both payments in one and the same year!!!

[mach86uk]

SIA always have had the bonus figures published in the Straits times and other local papers and this as usual will cause a great deal of anger.....why ? because it is simply inaccurate...!!!!
they do this to pervey to the public of singapore the image that they are extremely generous high payers....etc etc.
the bonus is in fact significantly less than 6 months...!! dont be fooled..!!!
im sure someone will break it all down for u to see the real picture.

[0.88M]

Once again SQ jocks are lured into false sense of achievement and security. As usual figures look good but yet to see $$$.
Why not, someone out there reading this thread shine some light on how cheated these fellas are.??
any "stephen King's " out there?

[TheComparer]

Actually my friend in Singapore says that he will receive 4.8 months worth of bonus now and 1.2 months of bonus in December.

Come on! You're getting 6! months bonus. That's got to be good.

Ok I know about their management and all that but come on. We all want the money

[John Barnes]

It must be disapointing for you yealous guys out there but so far SQ has always paid what they would pay as a bonus. And beleive it or not the bonus is 6.04 month, wich comes for some sorry souls here to the sum of S$ 96450. Not bad for a day in sunny Singapore.
It doesn't mean that life is perfect here, but it helps. This together with a good S$ 55400 in backpay will finance a good part of my boat. Open now for a lot of abuse that will surely come in from the disgrunted employees come in!

[leGrand]

Agreed with John Barnes. SIA has never fail to pay the bonus that they announce. Problem is with the bonus and backpay, would there be a exodus of pilots leaving!

[Gladiator]

Do you need COE for boats?

[John Barnes]

Yeap cost about S$ 30. Leaves roughly S$ 165000 for downpayment on the boat
Have a nice day

[In the slot]

Enjoy the boat John!
Maybe the whingers will take a vacation for a few days, that is until they've blown it all at the nearest casino, or betted on the 500-1 shot "father was a donkey" at the Singapore Turf Club!!
Hey Gladiator, still bored out there it seems.
How 'bout opening a thread on the world's best paying, most generous, most considerate, best-rostered airline?? I don't think you'd dare................

[thegypsy]

In the Slot Most considerate Airline? Get real. Most of the complaints about SIA have nothing whatsoever to do with money but far deeper matters which Insider 107 has so eloquently raised and nothingso deep routed has changed one iota.
Just remember the back pay is what is says to cover the last 2.5 years.
Remember tha CA has to last 3 years from Dec 2000, effectively making it 5 years from the expiry of the old one.
Remember we have all been cheated out of our 6% service increments the last few years.
The bonus for payment this year whilst most welcome and which helps to sweeten matters particularly for those on top scales is probably the last one we will ever get of this magnitude.It can also be nothing at all even wnen SIA makes what to most people would seem to be a handsome profit.

[John Barnes]

I only have one question for all these moaners and that is "Why does SIA make year after year these monster profits?" Answer: " Because they get an awfull lot out of the crews and admit it or not , they have a very good product"
I have the "pleasure" to position a lot on other airlines and in First and Bussiness there is no comparison. SIA, Emirates and Virgin win hands down from almost every other airline. You fly First in the States and you might be lucky if you can put your baggage in the overhead compartement. It is this level of service that pays the bonus at the end of the day!!!

[thegypsy]

John Barnes. Sorry to disagree but the Airline itself does not make a lot of money despite being so low cost in salaries for CABIN CREW, Engineers ,Catering,Cleaning and for those crew who have been there just a few years! Take away the subsiduary companies within the group and the profit would not look so hot.

[titan]

With all that has happened to SIA in the past year do you really believe that the profit figure is accurate? Its all swings and roundabouts. Management doesnt have to have a show-down this way with the consequential loss of face. The likes of John B will always be used as pawns in this game that happens way above their level of comprehension.
Come back John and let us know when your dollars are in the bank.

[twitchy]

SIA group profits,.....
charge the custmors higher than anyone else in the industry. Pay the employees lowest in the industry. This is the formula of making profit here in the land of LKY.

This is one company where empolees work for getting more bonus instead they should be working for getting the world class wages.

By the way these kind of bonus figure are not going to last for ever, SQ finance department is working over time to find the ways and means to pay less bonus with the same kind of profit. So wake up...

Happy landings guys
:-D

[John Barnes]

You are absolutely right Twitchy, SQ charges premium rates for their tickets, which brings me back to the same question "Why are the airplanes year after year chockerblock full". There is a lot that can and should be changed up in the very front but you can't beat the service record in the back. You know what it is to position on other carriers after being spoiled in SQ's FC.

[Farside]

John Barnes you surprise and at the same time saddens me because it is very obvious that you fell for the money trap. What happened to your critical view of management or is this the real JB and are you as shortsighted as you present yourself in your latest listings. There are more important things than bonuses and drinking champagne in FC. Although I am happy with the bonus and the CAA settlement, basically nothing has changed here and we are still in the dark ages of relations between management and the pilots. So far all the input that a lot of serious and devoted pilots have given to OSIG resulted in a “ noted” reaction from management. It is time that we get the pride back in our work, but that is under the present circumstances almost impossible to achieve.

[John Barnes]

Hello Farside
Are you one of the brownnosers looking for a management job in SQ. You surely sound like one. I take it that you responded to the letter of our leader asking expats to sent in their CV for consideration in management.

[Stuka]

Mr. Barnes:
Please let me know the truth about SQ, I've been thinking for a while to apply there, but all this talk in prune has kept me away from it. I'm an experienced B-767 driver, rather young and with lots of overseas experience. I'M actually flying for a large southamerican carrier and willing to move eastwards, If i'm gonna be mistreated, might as well do it for money, not like here. Do you have an E-MAIL where I can ask you some questions?

[0.88M]

Stuka.
If you do not mind being ****t on daily, then SQ is your Nirvana.
Nothing negative about getting 'almost' free 777 rating. Just that the culture here eats into your life after a while.
OH! did mention that 747-400 rating is available too. Definitly a Juicy offer from the 'diablo'.
Look on the bright side.after a few years you could be the most sought after jock with 777 / 747 ratings.

[In the slot]

Thegypsy.. you obviously did not recognise my last comment as a little sarcasm to our frustrated friend Gladdy. It was in no way a reference to SIA!

[thegypsy]

In the Slot. OIC!