Singapore Airlines.... "Pay cuts" report.
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Singapore Airlines.... "Pay cuts" report.
This arrived in my inbox from a BALPA source (a regular e-mail newsbriefing.) Thoughts? I've copied it exactly as it arrived to me
I can't recall seeing mention of this in here, or on R and N.
[ 16 November 2001: Message edited by: Sick Squid ]
SIA employees agree to pay cuts
David Fullbrook, Singapore (09Nov01, 09:02 GMT, 209 words)
Singapore Airlines’ (SIA) employees have tentatively agreed to take pay cuts to help the carrier reduce costs as the industry crunch bites deep into its balance sheet.
"The unions have agreed to a pay cut and it’s now being worked on," says an SIA spokesman.
Air Line Pilots Association Singapore honorary secretary Captain Sutharsana, who like some Indians uses only one name, says the two sides have come to an understanding which he expects to result in a firm agreement by 13 November.
Talks are continuing, with trigger points for pay cuts discussed at an earlier meeting today, but Sutharsana expects the cuts to be in the order of 5-7%, which is what SIA was hoping for.
SIA is cutting routes, frequencies, product upgrades and salaries in a bid to avoid its first ever full-year loss, which most analysts and even the company think is a very real possibility.
SIA is also delaying or deferring some of the dozens of aircraft it has on order.
Management salaries were earlier cut by 7-15%.
Not only is the carrier suffering as passengers shy away from air travel following September’s infamous terrorist attacks, but the Air New Zealand debacle has left a large hole in the balance sheet compounding the carrier’s woes.
Source: Air Transport Intelligence news
David Fullbrook, Singapore (09Nov01, 09:02 GMT, 209 words)
Singapore Airlines’ (SIA) employees have tentatively agreed to take pay cuts to help the carrier reduce costs as the industry crunch bites deep into its balance sheet.
"The unions have agreed to a pay cut and it’s now being worked on," says an SIA spokesman.
Air Line Pilots Association Singapore honorary secretary Captain Sutharsana, who like some Indians uses only one name, says the two sides have come to an understanding which he expects to result in a firm agreement by 13 November.
Talks are continuing, with trigger points for pay cuts discussed at an earlier meeting today, but Sutharsana expects the cuts to be in the order of 5-7%, which is what SIA was hoping for.
SIA is cutting routes, frequencies, product upgrades and salaries in a bid to avoid its first ever full-year loss, which most analysts and even the company think is a very real possibility.
SIA is also delaying or deferring some of the dozens of aircraft it has on order.
Management salaries were earlier cut by 7-15%.
Not only is the carrier suffering as passengers shy away from air travel following September’s infamous terrorist attacks, but the Air New Zealand debacle has left a large hole in the balance sheet compounding the carrier’s woes.
Source: Air Transport Intelligence news
[ 16 November 2001: Message edited by: Sick Squid ]
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Nothing really new for SQ...can recall the same being mentioned by management in 1979 when the oil price spiked. You can bet your boots that the execs have their nest well feathered. It's the old pi@@ on the troups routine. Only the faces change....
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Sick, for your info, I posted initial rumours obtained from source well over a month ago on R&N. It was transfered to T & E, and was forgotten about.
The deal is a 5% cut for f/o (7% Captain) of basic, no profit share, no annual increment (was 6% a few yrs ago), no extra 13th month salary.As bonus was 6 months basic last year,you dont have to be genius to figure the math. My prediction? SIA to make a whopper profit in three years, that more than surpasses any short term losses.
They were always a nasty arrogant bunch of racist hypocrites when times were good.So how goes it now?
The deal is a 5% cut for f/o (7% Captain) of basic, no profit share, no annual increment (was 6% a few yrs ago), no extra 13th month salary.As bonus was 6 months basic last year,you dont have to be genius to figure the math. My prediction? SIA to make a whopper profit in three years, that more than surpasses any short term losses.
They were always a nasty arrogant bunch of racist hypocrites when times were good.So how goes it now?
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Thank you for your very eloquent statement, SIA Sniffer:
They were always a nasty arrogant bunch of racist hypocrites when times were good.So how goes it now?
However, even now, sadly, SIA will never change their way of thinking: SIA is of the opinion that they can do anything they want and people will still want to fly for them.
Somehow, I just do not feel that way!!!
They were always a nasty arrogant bunch of racist hypocrites when times were good.So how goes it now?
However, even now, sadly, SIA will never change their way of thinking: SIA is of the opinion that they can do anything they want and people will still want to fly for them.
Somehow, I just do not feel that way!!!
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Over the last 3-4 years SIA have done everything they can think of in terms of procrastination to avoid either reaching an agreement with the pilots on both the bonus formula and back-pay or on actually paying it out. Additionally, last year was the first year of a new agreement on the bonus and the company tried to change it the day the pofits were announced.
If one looks at the cuts they are now imposing it can be seen that they are winding the clock back about 4-5 years to a position before the current agreements, so they never intended to honour them anyway, in fact I doubt if they can spell 'honour'!
This is a situation the Dear Doctor will love, screwing the pilot workforce, that is why the pilot's union is insisting on 'trigger points' in the company's future financial performance that will re-instate all agreements as at 10th Sept 2001. Exactly what the Dear Doctor would like to avoid.
If one looks at the cuts they are now imposing it can be seen that they are winding the clock back about 4-5 years to a position before the current agreements, so they never intended to honour them anyway, in fact I doubt if they can spell 'honour'!
This is a situation the Dear Doctor will love, screwing the pilot workforce, that is why the pilot's union is insisting on 'trigger points' in the company's future financial performance that will re-instate all agreements as at 10th Sept 2001. Exactly what the Dear Doctor would like to avoid.
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on the bright side of all these cuts and circumsicion, at least now we can increase APD as required.
Looks like SQ jocks are once again scape goats for an idiot´s mistake.
Is it really worth all the fuel saving and on time dept/ arr.?
good work in SQ means paycuts.. not much sense there.
Looks like SQ jocks are once again scape goats for an idiot´s mistake.
Is it really worth all the fuel saving and on time dept/ arr.?
good work in SQ means paycuts.. not much sense there.
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Hushkitted - "job-cuts" anyday unless you agree to being used then you can go for the losers option of pay cuts. Because there are people that have this mentality that is why the conditions are going to cr@p. 
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Well lets see, just talked to a UAL pilot and he mentioned that after 32 years with UAL and at age 58, his yearly salary was US$355,000, he flies a B747-400. He mentioned that he was thinking of an "early out" and was worried that the retirement would not be enough...hmmm, must have expensive toys. I wonder if he "really" thinks he is actually worth 355k/yr? No wonder UAL is on the brink of bankruptcy.
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Hey dude, long time no hear - boating season over now, so expect to see a little more of your journalistic prowess. Have followed this thread half heartedly. Some of us are still having - another sh#*ty day in paradise. After all " life IS a compromise " but at the end of the day it's the same V1, VR and Shutdown Checklist - it's just what you get out of it. Me...... can't complain still the same flea with the same dog; it's symbiosis in perfection, still able to do all that I wanted to, the reason is tollerance and attitude. See..... compromise.
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Hey waddahappening man Highlander. Yeh boating season is over and it is hunting season. Packed the boat got the 4X4 ready for cougar and bear season.
Yeh yeh yeh, compromise, blah, blah, blah. Whatever works for you man in Fort Singapura (THE ROCK).
I am not going to be doing much writing here mate. My mission is over. Once in a while I browse.
BTW has SIA decided to keep the cockpit doors locked (at least in US airspace)? Otherwise FAA and NTSB are going to hear from me. Then the first thought in their minds are going to be, "Oh god, no, not him again".
Regards,
Glad i ate her
Yeh yeh yeh, compromise, blah, blah, blah. Whatever works for you man in Fort Singapura (THE ROCK).
I am not going to be doing much writing here mate. My mission is over. Once in a while I browse.
BTW has SIA decided to keep the cockpit doors locked (at least in US airspace)? Otherwise FAA and NTSB are going to hear from me. Then the first thought in their minds are going to be, "Oh god, no, not him again".
Regards,
Glad i ate her