Thursday, 12 November 2009

Pay back time

About a year ago (Nov 2008) I blogged about cabin crew spending like crazy oblivious to the recession which was staring and going to hit almost everybody hard ( http://www.bohtong.org/2008/11/current-crisis-affecting-crew.html ).
Not long after that SIA started to cut staff salaries and later urged the staff to go on unpaid leave. SIA reduced almost 11% of its flights and parked some of its aircrafts in the Arizona dessert.
CC was left with fewer flights to operate and resulted in lower take home pay.
As the credit crunch began to bite harder,SIA lost $466 million in the first half of 2009,a stunning reversal of the $682 it made in the same period the year before.
Now we hardly see cabin crew flashing their Rolex watches and Louis Vitton bags. Some have disposed off their cars,apartments and houses and downgraded to cheaper and smaller units. Others have moved in to stay with their parents.
Some cc have even declared bankrupt as they could not service their loans or pay back whatever they owed to lending institutions.
Many are taking public transport (BT met many of them in buses and MRT) while some even use motorbikes and bicycles as their means of transport.
But all is not lost as SIA ceo Mr. Chew Choon Seng puts it in today's Straits Times "More noteworthy is the fact that we are seeing a definite pick-up in bookings in business class...we are starting to see bankers in suits back in the first class and business class,so that is the encouraging part".
So cc should be returning in throngs at the pawn shops to redeem their Rolex watch,jewelleries etc... while some may have already visited car showrooms to book for their favourite brands of Toyota,Honda and to a certain extent Mercedes ( junior cc would probably visit Korean and China made car showrooms)

8 comments:

Anonymous said...

"..we are starting to see bankers in suits back in the first class and business class"
Shzzsh BT, that's where the problem lies.
CC and working people are the little people who pay taxes.
http://video.google.com/videoplay?docid=-545930454338776455

Anonymous said...

You dun see crew carry LV or wearing Rolex becos they are PASSE! Crew r buying Chanel from London now.

Anonymous said...

Not true, i bought a Rolex GMT, Upgraded my car and bought a LV wallet, a HP, a camera during this crisis =) next up is a Mac book pro hehehehe....

Anonymous said...

Aiya..u are those LKK. That's why still Lorlex,LV..keke

Anonymous said...

Who cares!
If you can afford it by all means.
Make sure be prepared for a rainy day.
Make sure you are not in debt.
And no outstanding loan to pay.
Live within your means.
Enjoy your life and be happy!

Anonymous said...

Thats how SQ will keep CC enthralled.
Plenty of materialistic people here.
The younger ones will have macbooks, ipods and all the trappings and gizzmos, sign up for Credit cards and buy cars.
The older ones will committ to homes and loans of 500K, renovations and buy expensive insurance.
This is when they got you by the B--ls.. die, die will have say the pledge, march as a platoon and wait for hotel rooms

Tsk, tsk,.. all this just to have your cake and eat it.. such empty and hollow lives... and it goes on year after year.. right unto your old age...

Anonymous said...

SIA cc are how liang punks showing off whatever they have.Many owed even ah long.

Anonymous said...

Most juniors are stingy,eat cheap and majority carrying some cheap looking trolley bags.
Once out of uniform...look like factory girls MOST wears cheap jeans/worn off t shirts, completely without make up