Published Date:
21 June 2009
THE chief executive of Singapore Airlines, Chew Choon Seng, above, will take a 20 per cent pay cut as the carrier looks to cut costs after seeing profits battered by weak travel demand and volatile oil prices.
Management of the world's biggest-by-market-value airline will also see cuts of between 10 and 20 per cent from July, while the directors have volunteered for a 20 per cent fees cut and the airline's 2,300 pilots have agreed to take one day of unpaid leave a month.
The airline has cut capacity after a slump in business-class passenger travel and cargo demand. The chief executive of British Airways, Willie Walsh, is working for no pay next month.
The full article contains 129 words and appears in Scotland On Sunday newspaper.
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Last Updated:
20 June 2009 1:50 PM
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Source:
Scotland On Sunday
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Location:
Scotland
