THAI to cut executive pay for 6 months
published : 25 Feb 2020 at 19:40
writer: Online Reporters
Thai Airways International (THAI) will cut salaries and other allowances of executives by 15-25% for six months from March 1 to alleviate losses from the impact of Covid-19 outbreak.
THAI president Sumeth Damrongchaitham said on Tuesday that the outbreak of coronavirus disease 2019 or Covid-19 in several countries has eroded confidence in travel and this caused the number of passengers to drop during this period.
The airline has reduced flights on several routes, particularly to China with flights cut by 50%, and Japan with flights reduced by 10% to cut costs.
THAI will soon issue an announcement to cut salaries and travel allowances of executives by 15-25% for six months, effectively on March 1, said the airline president.