My ex-colleagues John & Percy here

Friday, August 1, 2014

Should SIA take a cue from Qantas?

Qantas is in the process of slashing 5,000 jobs and restructure the airline in a bid to save
A$2 billion by the year 2017. This exercise came about when it posted a huge A$252 million half year loss  (July to December) last year.

SIA should  take a cue from Qantas before it is too late. It's S$35 million profit for Q1 this year isn't good enough for the airlines as well as the shareholders. It made $122 million for the same period last year. It's current share price of between S$9.99 and $10.02 is one of the airline's lowest.

Retrench unproductive staff, cut the salaries of the management staff and the company's board as well as the highly paid pilots or force them to take no-pay leave should help SIA. Discontinue unprofitable routes etc are other options.

We hope to see some actions soon or else we will wake up one morning to read in the ST that SIA is making colossal losses and it's share price is reduced to penny stock status.


Anonymous said...

Sack all those old blood suckers in the office and things should look up a bit

Anonymous said...

agreed ! sometimes I wonder how all these ugly but sexy guys lasted so long ?

1 month flying senior said...

SIA should just pack up and close down...We don't need a national airline..All Singapore needs is the airport..good luck to those who need this SIA job....better start saving, or look for something else to survive on, it's never too late.. Don't waste your money buying branded bags...hee hee....not much resale value..

Anonymous said...

With regards to the "highly paid pilots", they are actually paid the market rate.. But in SIA, they are paid below the market rate..but it is something that they have to accept.. Well, there is nothing to stop anyone from being a pilot if they think the pay is so good.... also there is nothing to stop anybody dying to be in management, or even to be the CEO or be in the PAP.....