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Singapore – In response to news that Singapore Airlines (SIA) pilots had agreed to deeper pay cuts amid the Covid-19 pandemic to save jobs, members of the public wonder if top management could preach with the example and do the same.
The pilots have agreed to take up to a 50 percent deduction from their wages in exchange for job security. The salary cut was added to a 10 percent reduction in the monthly variable component (MVC) of their salaries, according to straitstimes.com.
Beginning October 1, captains and first rehired officers will receive salaries less than 60 percent and 50 percent respectively. The calculation includes the 10% MVC cut. This was the agreement reached between SIA and the Association of Airline Pilots – Singapore (Alpa-S).
Meanwhile, other captains and first officers will receive pay cuts of up to 28.5 percent and 18.5 percent, respectively, and depending on their current salary.
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“We are pleased to announce that a memorandum of agreement (MOA) was signed with Alpa-S from October 1, 2020 to March 31, 2022, on additional wage cuts to prevent further job losses,” according to a shared internal circular. with ST.
The deal was made to mitigate further job losses for the pilots, a SIA representative confirmed. “The SIA Group is focused on navigating and overcoming the challenges that lie ahead in this extremely uncertain operating climate.”
Around 50 of the 2,600 SIA pilots are reported to have been laid off, most of whom were foreigners. Singapore’s flag carrier is operating at roughly 8 percent of passenger capacity compared to pre-pandemic levels. It is expected to trade below 50 percent by the end of the year.
In response to its pilots’ pay cuts, members of the public wondered if SIA management could lead by example and also accept more deductions to save more jobs.
July 30th businesstimes.com.sg reported that as of August 1, managers and senior executives would see a 12% salary reduction, compared to 10% previously. Vice Presidents (VP) and Division Vice Presidents would receive a reduction of 15 percent, down from 12 percent. Senior vice presidents, executive vice presidents, and CEO Goh Choon Phong would receive deductions of 25, 30, and 35 percent, respectively. This was a 5 percent increase over previous pay cuts. / ITGS
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