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Singapore Airline's chief Chew Choon Seng to take pay cut
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.
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Saturday 26 May 2012
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