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Wednesday, January 22, 2020

Airlines huge challenge...the Wuhan virus

The Wuhan SARS-like virus is a great threat to many industries especially the airlines industry. Like SARS in 2002/2003, it may caused people to stop travelling and would devastate the airlines. Profits will nosedived and many workers laid off.
In 2003, SARS hit SIA very hard and as a result many staff including cabin crew were retrenched. More than a dozen of my colleagues and I were given the "Golden Handshake". That was 17 years ago and it may happen again. Let's keep fingers crossed that this time round, the crisis may not be as severe as in 2002/2003 although 9 deaths have already occurred  and hundreds infected in China and elsewhere.

In 2003 these were the ones who were retrenched:

Under performing chiefs and inflight supervisors.
The cabin crew executives (check & training) were
given the "Golden Handshake"...18 to 20 accepted it.

The difference between the 2 was that the first category
had no choice but to accept the retrenchment while the
cabin crew executives were given the choice to accept the
scheme or to remain working in the office with no flying role.

2 comments:

Anonymous said...

yipeee. i look fwd to flights with single digit load again.
feel really good to see 0/5/20 kinda of load where i can klkk cbl.
being top 10%, no MC i wun fear retrenchment.
even offer me no pay leave i also wun take cos i can relack n enjoy for flights
welcome SARS and wuhan!

Mai-kiah said...

Flew to LAX in Dec 2003 via NRT ( SQ12 ). Load was extremely light.
My family of 4 all stretched out 4 rows each ( DEFG -747). Hotels in LAX and elsewhere
begging to extend stays at USD$25 per night.
Best time to fly is during SARs and Wuhan
Best time to buy shares is also during such times.
How long will each of these last?
1 year?
2 years?
3 years?

The financial crisis lasted less than a year
Sars lasted less than a year too.

If you have enough cash to last 2-3 years, be bold and buy... its a gamble but
life is already a gamble.