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Monday, 17 August 2009

Don't talk cock for once please

Let's move away from the subjects of unionism and tech crew-ism la and talk about the early retirement scheme offered by SIA recently.
The offer of max $250k for a capt is a joke. Captains draw an average of 15k in basic pay. From the age of 50 to 65 (15)a captain with SIA could have easily drawn a total salary of $2.7 million (by the time he retires at age 65) Minus 25% for income tax he would still pocket around $2 million.This is not inclusive of allowances. In this context, a capt would be a cock to accept the early retirement. Unless he is a few years away from his retirement he would not accept it. But in such a case do you think SIA would pay him $250k? It will be pro-rated.
As for cabin crew and general staff it's also not worth taking the ER (early retirement) Assuming a cc earns a basic pay of $2k and at age 50 he would be paid 25 months of his basic which is $50k. No biggie mah. What can one do with 50k these days? Same goes for the general staff.
However,one has to consider this....if there are few takers,the company may be left with little choice but to retrench the staff (if the current business situation deteriorates). Retrenchment means no yearly free tickets and the stigma that comes with it. Simply means you are inefficient and the company got rid of you.
But there are talks of money making opportunities by some retired CCEs outside of SIA. Of course there will always be but are you good and lucky enough to be like them?
When you leave SIA, don't think of becoming taxi drivers or security guards or work in 7-11 stores. Spend your time productively. I believe like someone just said that "the air outside of SIA is sweeter"
Go for it man if you are asked to leave SIA!

6 comments:

Anonymous said...

Long long time ago, SIA had been nice to its employees. Without SIA, most of the old guys would not be able to afford private/landed properties.What with the academic qualifications they have.So all old timers, count your blessings.There is more sufferings out there.

Just a Malaysian said...

A Capt who take the earlier retirement $$ & then work for other airlines with higher pay sure will be laughing to the bank.Capt are in demand as their expertise are marketable worldwide.

Anonymous said...

Just a Malaysian why u so naive? There are too many pilots and local SIA capts are not wanted overseas,so please shut yr mouth b4 saying anything.

Singapore Capt said...

Anonymous

There are ex SIA pilots who move on to fly with airlines like Emirates, Etihad, China Airlines just to name a few. And yes, these are locals, not the expats. Please shut ur mouth before saying anything WITHOUT finding more information to back up ur claim. And Malaysian is not wrong, there are pilots who are considering taking the package and move on to other airlines

Enginer Krish said...

Singapore Capt fyi there are many airlines out there retrenching pilots.Times are bad and airlines are laying off staff and there is little chance of sia pilots getting jobs outside. Therefore don't kid yourself that pilots are in demand at least not for now.

Singapore Capt said...

Engineer Krish

Qatar, Etihad, one West African Airline is still recruiting Capts and FOs for B777 and A330 fleet.

Yes, its a downturn but there are still recruitment going on. Read Mondays Straits Times and you can see recruitment advertisement for pilots.