x 0

SIA will cont red till next yr.....

bishan22 ( Date: 11-Sep-2020 07:36) Posted:

Before election every sector seem ok..no retrenchment warning. Now one by one que up for chopping.

TA_Expert ( Date: 10-Sep-2020 23:22) Posted:

1,000 out of the 2,400 retrenched employees are voluntered so that they can get their huge retrenchment benefits.

The perks it offered included flexible leave and a monthly pay of about US$25,000 (S$35,500) for captains. In a good month, an SIA captain makes $18,000 to $20,000.

If the captain has worked for 20 years, he will receive $500,000 retrenchment benenfit. It will be better to take the package and quit SIA, so that you can retire comfortablely or look for a another job.

No wonder Goldfinger keeps emphasising that these pilots are very stuck up.

x 0

Before election every sector seem ok..no retrenchment warning. Now one by one que up for chopping.

TA_Expert ( Date: 10-Sep-2020 23:22) Posted:

1,000 out of the 2,400 retrenched employees are voluntered so that they can get their huge retrenchment benefits.

The perks it offered included flexible leave and a monthly pay of about US$25,000 (S$35,500) for captains. In a good month, an SIA captain makes $18,000 to $20,000.

If the captain has worked for 20 years, he will receive $500,000 retrenchment benenfit. It will be better to take the package and quit SIA, so that you can retire comfortablely or look for a another job.

No wonder Goldfinger keeps emphasising that these pilots are very stuck up.

x 0

Will SIA learn from this lesson? Temasek also need to learn. 320 coming?
Who is going to answer for the billions lost?
How many years they need to make the billions lost?

Trade with caution no contra no short and DYODD

TA_Expert ( Date: 11-Sep-2020 01:32) Posted:

SIA has no choice but to give good retrenchment benefits as they are government linked company.

Every year of service = 1 month of salary. No wonder 1,000 employees raised their hands to be retrenched. Most of these employees are old timers.

You are right to point out that these retrenchment benefits will cost SIA millions.

SAVIORFOREVER ( Date: 10-Sep-2020 23:37) Posted:

Now then retrench.
They should have done that months ago.
So result must be very ugly.
Company still can give big retrenchment benefits?

Trade with caution no contra no short and DYODD

x 0

SIA paid good salary to middle management too

x 0

My god, Dow drop 405 point, do not know SIA will follow or not...

x 0

When is it time to buy SIA? I think let the situation stabilise for another few weeks. Stay sideline first. Anyway USA market not doing well. Retrenchment news may send stock plummeting though it is good news and welcome news for shareholders that they finally cutting cost. Came way too late!

Join our SGX/US Stock Exchange chats on telegram: http://t.me/sgHuat
More than 2500 members and counting!

x 0

SIA has no choice but to give good retrenchment benefits as they are government linked company.

Every year of service = 1 month of salary. No wonder 1,000 employees raised their hands to be retrenched. Most of these employees are old timers.

You are right to point out that these retrenchment benefits will cost SIA millions.

SAVIORFOREVER ( Date: 10-Sep-2020 23:37) Posted:

Now then retrench.
They should have done that months ago.
So result must be very ugly.
Company still can give big retrenchment benefits?

Trade with caution no contra no short and DYODD

x 0

I short SIA leh.. $3.75 @ 20k shares

SAVIORFOREVER ( Date: 10-Sep-2020 23:37) Posted:

Now then retrench.
They should have done that months ago.
So result must be very ugly.
Company still can give big retrenchment benefits?

Trade with caution no contra no short and DYODD

x 0

Now then retrench.
They should have done that months ago.
So result must be very ugly.
Company still can give big retrenchment benefits?

Trade with caution no contra no short and DYODD

x 0

Wow. So next qtr reaults will be bad? Retrenchment costs?

Goldfinger ( Date: 10-Sep-2020 23:34) Posted:

Precisely - time for them to join the ranks of the unemployed.

TA_Expert ( Date: 10-Sep-2020 23:22) Posted:

1,000 out of the 2,400 retrenched employees are voluntered so that they can get their huge retrenchment benefits.

The perks it offered included flexible leave and a monthly pay of about US$25,000 (S$35,500) for captains. In a good month, an SIA captain makes $18,000 to $20,000.

If the captain has worked for 20 years, he will receive $500,000 retrenchment benenfit. It will be better to take the package and quit SIA, so that you can retire comfortablely or look for a another job.

No wonder Goldfinger keeps emphasising that these pilots are very stuck up.

x 0

Precisely - time for them to join the ranks of the unemployed.

TA_Expert ( Date: 10-Sep-2020 23:22) Posted:

1,000 out of the 2,400 retrenched employees are voluntered so that they can get their huge retrenchment benefits.

The perks it offered included flexible leave and a monthly pay of about US$25,000 (S$35,500) for captains. In a good month, an SIA captain makes $18,000 to $20,000.

If the captain has worked for 20 years, he will receive $500,000 retrenchment benenfit. It will be better to take the package and quit SIA, so that you can retire comfortablely or look for a another job.

No wonder Goldfinger keeps emphasising that these pilots are very stuck up.

x 0

1,000 out of the 2,400 retrenched employees are voluntered so that they can get their huge retrenchment benefits.

The perks it offered included flexible leave and a monthly pay of about US$25,000 (S$35,500) for captains. In a good month, an SIA captain makes $18,000 to $20,000.

If the captain has worked for 20 years, he will receive $500,000 retrenchment benenfit. It will be better to take the package and quit SIA, so that you can retire comfortablely or look for a another job.

No wonder Goldfinger keeps emphasising that these pilots are very stuck up.

x 0

Wow... u manage to take classified photos

Starship ( Date: 10-Sep-2020 22:23) Posted:

SAVIORFOREVER ( Date: 09-Sep-2020 16:32) Posted:

You sounds like a terrorist. Maybe police should invite you for coffee.

Trade with law and order

x 0

SAVIORFOREVER ( Date: 09-Sep-2020 16:32) Posted:

You sounds like a terrorist. Maybe police should invite you for coffee.

Trade with law and order

uiop1223 ( Date: 09-Sep-2020 09:16) Posted:

Huat la. Best is that some of the aircraft parked in Australia are damaged by desertstorm or engine spoilt or bomb by terrorists.

x 0

SIA shareholders cannot foot the bill for underemployed Pilots and Cabin crew indefinitely.

Goldfinger ( Date: 10-Sep-2020 21:02) Posted:

They still need to drastically cut pay for the remaining SIA staff since they are Flying at a mere fraction of pre-Covid capacity.

Goldfinger ( Date: 10-Sep-2020 19:14) Posted:

Long overdue - many Pilots are sitting around doing nothing and wasting our precious hard earned money. Chop more better. Than hire back at half pay later on

x 0

Management at least cut 50%

Goldfinger ( Date: 10-Sep-2020 19:14) Posted:

Long overdue - many Pilots are sitting around doing nothing and wasting our precious hard earned money. Chop more better. Than hire back at half pay later on.

des_khor ( Date: 10-Sep-2020 18:34) Posted:

Finally ..

x 0

They still need to drastically cut pay for the remaining SIA staff since they are Flying at a mere fraction of pre-Covid capacity.

Goldfinger ( Date: 10-Sep-2020 19:14) Posted:

Long overdue - many Pilots are sitting around doing nothing and wasting our precious hard earned money. Chop more better. Than hire back at half pay later on.

des_khor ( Date: 10-Sep-2020 18:34) Posted:

Finally ..

x 0

Cathay Pacific planning to park up to half its fleet in desert as aviation industry struggles to recover from coronavirus
10:56am, 9 Sep, 2020

Capacity continues to outstrip demand, and long-haul flights not expected to fully return to normal until 2024

Cathay Pacific Airways is studying plans to park even more aircraft abroad in long-term storage, the Post has learned, with a recovery in air travel taking longer than anticipated.

The group, which also covers Cathay Dragon, could send as many as half of its 180 passenger aircraft to desert locations eventually, one source familiar with the matter said, but another said it could be slightly less.

&ldquo I think given what we know right now about Cathay&rsquo s fleet, they&rsquo re essentially uniquely unsuited for the current markets,&rdquo said Luya You, transport analyst at brokerage Bocom International.

&ldquo We know that widebodies make even less economical sense to fly right now when load factors remain abysmal. Therefore, it&rsquo s much more cost effective to ground than to fly.&rdquo

The vast majority of the Cathay group&rsquo s 235 planes are large widebody aircraft, which are not ideal for weak travel demand, and it does not have domestic flights to fall back on.

https://www.scmp.com/news/hong-kong/transport/article/3100784/cathay-pacific-planning-ship-half-its-fleet-desert

x 0

Long overdue - many Pilots are sitting around doing nothing and wasting our precious hard earned money. Chop more better. Than hire back at half pay later on.

des_khor ( Date: 10-Sep-2020 18:34) Posted:

Finally ...

Alex0037 ( Date: 10-Sep-2020 18:28) Posted:

SIA cuts 2,400 jobs amid Covid-19 fallout pilots, cabin crew and other staff affected

https://www.asiaone.com/singapore/sia-cuts-2400-jobs-amid-covid-19-fallout-pilots-cabin-crew-and-other-staff-affected

x 0

this will help alot for burning money, but still need 90% plane fly.

des_khor ( Date: 10-Sep-2020 18:34) Posted:

Finally ...

Alex0037 ( Date: 10-Sep-2020 18:28) Posted:

SIA cuts 2,400 jobs amid Covid-19 fallout pilots, cabin crew and other staff affected

https://www.asiaone.com/singapore/sia-cuts-2400-jobs-amid-covid-19-fallout-pilots-cabin-crew-and-other-staff-affected