Salary halved for boss of Bangkok Airways

[rooster59]

Salary halved for boss of Bangkok Airways

By THE NATION

 

 

Bangkok Airways Plc (BA) will impose stringent cost-reduction measures, including cutting the salaries of high-ranking executives, in response to the global economic slowdown and the impact of the Covid-19 virus, it said on Friday (February 28).

 

 

Thai Airways International (THAI) had earlier also announced a reduction of between 15 and 25 per cent in salaries and other perks for executives, from the president down, to trim costs in the midst of the virus outbreak.

 

“Due to the economic downturn and the outbreak of Covid-19 affecting various industries worldwide, particularly the tourism and aviation sectors, Bangkok Airways has reviewed and adjusted its strategic plan in response,” said BA president Puttipong Prasarttong-Osoth.

 

The plan includes measures to reduce expenditures in order to continue effective business operations. The measures will be in effect from Sunday “until further notice”.

 

They include:

 

• A decrease in flight frequency and flight terminations on certain routes according to passenger demand

 

• Salaries halved for the CEO/president, executive vice president of corporate administration and senior vice president of finance and accounting

 

• No salary increments in 2020 for department heads

 

• Certain benefits reduced for all management and employees

 

• All station managers (overseas and elsewhere in Thailand) to return to Bangkok

 

• All staff take leave without pay of 10-30 days depending on job level

 

The airline said the measures will not affect aviation and flight operation safety or passenger services.

 

BA’s total revenue last year was Bt28.6 billion, up by 2.4 per cent compared to 2018. Net profit was Bt356.7 million, up by 35.3 per cent.

 

The airline carried 5.86 million passengers last year, down 1.6 per cent from 2018.

 

Source: https://www.nationthailand.com/business/30383036

 

-- © Copyright The Nation Thailand 2020-02-29

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[rasmus5150]

Everyone in upper management who has taken a salary cut, will be labeled as unselfish heroes. And then when the virus threat is over, they will receive a 'grey bonus' for their gestures earlier....

[BestB]

Seems Bangkok airways knows how to run business . One point though I do not agree with is staff taking unpaid holidays. Saying that , if it’s a choice take an unpaid 10 day holiday or be made redundant , perhaps unpaid holiday would be first choice 

[ChipButty]

Just put the prices up, sorted

[RJRS1301]

3 hours ago, rooster59 said:

All staff take leave without pay of 10-30 days depending on job level

 

The airline said the measures will not affect aviation and flight operation safety or passenger services.

Unfair to expect the poorly paid employees to take leave without pay.

 

If these measures will not affect operation, safety or service, are they just trimming snaouts at the trough?

 

Edited February 29, 2020 by RJRS1301

[Topdoc]

Rents need to be cut also but I wonder how many landlords will be smart enough to avoid the tsunami of empty buildings

[RichardColeman]

5 hours ago, rooster59 said:

“Due to the economic downturn and the outbreak of Covid-19 affecting various industries worldwide, particularly the tourism and aviation sectors, Bangkok Airways has reviewed and adjusted its strategic plan in response,” said BA president Puttipong Prasarttong-Osoth.

OK, so who IS lying, the tourist board or the people flying the tourists in ? I think we know, the Thai people know and the TAT continue to live in lala land

[30la]

7 hours ago, rooster59 said:

Salary halved for boss of Bangkok Airways

7 hours ago, rooster59 said:

 

 

Edited February 29, 2020 by 30la

[30la]

7 hours ago, rooster59 said:

 

BA’s total revenue last year was Bt28.6 billion, up by 2.4 per cent compared to 2018. Net profit was Bt356.7 million, up by 35.3 per cent.

 

The airline carried 5.86 million passengers last year, down 1.6 per cent from 2018.

Ok, BA's policy in recent years has been to compensate for the loss of passengers with a significant increase in prices, let's expect a nice increase again.
Flying BKK-Samui has been a luxury for years ...

[Chelseafan]

3 hours ago, RichardColeman said:

OK, so who IS lying, the tourist board or the people flying the tourists in ? I think we know, the Thai people know and the TAT continue to live in lala land

There are many other airlines flying into Thailand but in answer to your question, it's of course the TAT.

 

[Chelseafan]

1 hour ago, 30la said:

Ok, BA's policy in recent years has been to compensate for the loss of passengers with a significant increase in prices, let's expect a nice increase again.
Flying BKK-Samui has been a luxury for years ...

In real terms, adjusting for inflation, flying has never been cheaper. You also have to remember flights are only profitable if they are full which is not always the case. BA is run very tight unlike Thai which has an abundance of overpaid and underperforming salary men (and women). JMHO of course.

 

 

Edited February 29, 2020 by Chelseafan

[Stargeezr]

Welcome to March everyone!  I seen a picture of Cathay Jets sitting idle in Hong Kong,

 I wonder, how much longer it will take before big changes happen to a lot of Airlines?

  I also wonder what the stock markets will look like in a month?

 

Geezer

[emptypockets]

14 hours ago, RJRS1301 said:

Unfair to expect the poorly paid employees to take leave without pay.

 

If these measures will not affect operation, safety or service, are they just trimming snaouts at the trough?

 

Which poorly paid employees are you referring to?

[emptypockets]

8 hours ago, Chelseafan said:

In real terms, adjusting for inflation, flying has never been cheaper. You also have to remember flights are only profitable if they are full which is not always the case. BA is run very tight unlike Thai which has an abundance of overpaid and underperforming salary men (and women). JMHO of course.

 

 

You do realise BA is in reference to Bangkok Airways? Not British Airways.

You are not alone in this area of misconception. I've seen posters go off about the ' common market' as  the European/ British  thing used to be known when the actual thread was about the EEC, or the Thai Eastern Economic Corridor development area.

Edited February 29, 2020 by emptypockets

[Chelseafan]

17 minutes ago, emptypockets said:

You do realise BA is in reference to Bangkok Airways? Not British Airways.

You are not alone in this area of misconception. I've seen posters go off about the ' common market' as  the European/ British  thing used to be known when the actual thread was about the EEC, or the Thai Eastern Economic Corridor development area.

Ah, Read 1/2 the thread, serves me right but point still stands ????

[RJRS1301]

50 minutes ago, emptypockets said:

Which poorly paid employees are you referring to?

Flight attendants.Checkin staff,baggage handlers

[soalbundy]

19 hours ago, RichardColeman said:

OK, so who IS lying, the tourist board or the people flying the tourists in ? I think we know, the Thai people know and the TAT continue to live in lala land

Tourism is up 2.5% (they are all hiding from corona)

[Grusa]

On 2/29/2020 at 8:27 AM, rooster59 said:

Salary halved for boss of Bangkok Airways

Half an obscenely large salary is still an obscenely large salary, compared to the hoi-polloi. May we know how much? No, I thought not.

[Ettore Santo Zoppis]

On 2/29/2020 at 11:38 AM, rasmus5150 said:

Everyone in upper management who has taken a salary cut, will be labeled as unselfish heroes. And then when the virus threat is over, they will receive a 'grey bonus' for their gestures earlier....

How you know that????