THAI AIRWAYS International’s eight top-level executives will take a 10-per-cent pay cut in loss-making months until the airline returns to profitability, its president announced yesterday amid growing criticism of the carrier’s poor management and huge losses.
“We will cut 10 per cent of our salary in a month that shows a net loss, while in a month that shows a net profit, there will be no cut. This will be effective from this month until our business recovers,” THAI president Charamporn Jotikasthira said at a press conference yesterday after the company reported a net loss of Bt9.89 billion for the third quarter.
A net loss of Bt18.09 billion was posted for the first nine months of the year.
They avoid to tell how much these “top-level” executives are “earning”!