Cash strapped Sri Lankan Airlines has decided to slash the salaries of its staff for a period of three months.
The airline said that the Chairman Ashok Pathirage and the Board of Directors are ever mindful of their duty to protect the country’s economic interests, livelihoods of the employees of the SriLankan Family and are making every effort to ensure the business continuity of the National Carrier.
This is a situation that the air transport industry has never faced before and is placing unprecedented stress on the financial viability of many airlines and the economies of the countries in general.
For this reason, the management of SriLankan Airlines has already taken measures to preserve the liquidity of the National Carrier by negotiating deferred payment plans and deductions with Airline’s key suppliers.
Whilst doing so, the Airline is continuously looking at creating new business opportunities whilst focusing on cost saving measures to improve liquidity.
These measures include mandatory salary reductions from the staff starting from 2.5% to 25% for a period of three months, freezing all the salary increments to be implemented in the year 2020, and other initiatives including temporarily terminating operations from 8th to 21st April, 2020 with the exception of cargo services which have a direct impact in saving costs.
The management of SriLankan Airlines is taking all endeavors to protect and safeguard its staff members and their employment with the total confidence that the Airline will collectively overcome these challenges, with the strength of the Airline’s employees.
(LI)