newstodate.aero
Aug 11, 2009 (newstodate): As almost all airlines, SAS is taking drastic steps to cut costs and unprofitable business during the current economic downturn.
But while SAS is announcing another tough road map towards even more deep-going cost cuttings and the airline's cabin crew union has offered a seven-percent decrease in wages on certain conditions, the airline's own management has so far not been seen to set a convincing example.
According to reliable in-house sources, SAS managers from the level of director and upwards are still receiving annual performance bonuses above their monthly wages.
-SAS leaders at levels from director and upwards are receiving a fixed basic salary plus a variable bonus, says Elisabeth Manzi, SAS director media relations.
-The variable part of the remuneration comprises one element that is coupled to the SAS Concern's financial result, while another part relates to the individual performance of the leader, measured against a set of targets specified in the contract.
-If the SAS Concern's financial result is negative, only the individual performance bonus is paid out.
While the SAS Concern's top-level leadership has waived their entire variable bonus for 2008, the leadership levels from director and upwards are still receiving their individual 2008 performance bonus in 2009 despite the general calls for restraint and reductions.
But while SAS is announcing another tough road map towards even more deep-going cost cuttings and the airline's cabin crew union has offered a seven-percent decrease in wages on certain conditions, the airline's own management has so far not been seen to set a convincing example.
According to reliable in-house sources, SAS managers from the level of director and upwards are still receiving annual performance bonuses above their monthly wages.
-SAS leaders at levels from director and upwards are receiving a fixed basic salary plus a variable bonus, says Elisabeth Manzi, SAS director media relations.
-The variable part of the remuneration comprises one element that is coupled to the SAS Concern's financial result, while another part relates to the individual performance of the leader, measured against a set of targets specified in the contract.
-If the SAS Concern's financial result is negative, only the individual performance bonus is paid out.
While the SAS Concern's top-level leadership has waived their entire variable bonus for 2008, the leadership levels from director and upwards are still receiving their individual 2008 performance bonus in 2009 despite the general calls for restraint and reductions.