Singapore Airlines pilots agree to deeper pay cuts to retain jobs

Photo: Singapore Airlines's Facebook page

Singapore Airlines Ltd. pilots have agreed to further pay cuts to remain in employment, the carrier said Saturday.

The city-state’s flag carrier and the Air Line Pilots Association – Singapore reached the agreement Friday and the company will implement the measures for all remaining pilots in Singapore Airlines and SilkAir with effect from Oct. 1. The deal will help to mitigate further job losses for pilots, it said.

Under the agreement, salaries for re-employed captains and first officers will be cut by 60% and 50% respectively, the Straits Times reported, citing an internal circular. This includes a 10% reduction to the monthly variable component of their pay, the newspaper said.

Currently employed captains will have pay reduced by as much as 28.5%, while first officers’ salaries will be cut by up to 18.5%, the newspaper said. The agreement holds until March 31, 2022, according to the Straits Times.

The troubled carrier announced earlier this month that it will eliminate 20% of its workforce — or about 4,300 jobs — across its business and the SilkAir and Scoot units as it struggles amid a standstill in international air travel. The company put staff on unpaid leave, and pilots and cabin crew who are not flying no longer receive flight allowances, according to a Straits Times report in August.

Unlike many of its peers, Singapore Airlines initially managed to resist job cuts, though some staff were redeployed to work in hospitals, social services and on Singapore’s transport network.

The airline operated at about 8% of passenger capacity in August. It carried around 40,000 passengers last month, compared with 3.3 million a year earlier.

Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.