Deeper pay and fee cuts for SIAEC management, directors
Singapore
THE management of SIA Engineering Company (SIAEC) is taking a deeper pay cut than previously announced, while the directors have also volunteered a larger reduction in their fees.
"In view of the massive flight cuts by airline customers and the increasingly difficult business environment, SIAEC is stepping up its measures to mitigate the severe impact," the company, which provides aircraft maintenance, repair and overhaul services, said in a bourse filing on Thursday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Evergrande EV unit says its liquidators found a potential buyer
ECB’s Cipollone, Panetta see conditions for a June rate cut
Yangzijiang Financial says its maritime entry not a conflict of interest with shipbuilding unit
Trafigura faces off with aluminium bulls over huge metal stash
Seatrium bags S$11 billion in FPSO contracts from Petrobras
Pound boosted with BOE seen staying on hold until after election