SriLankan Airlines imposes mandatory salary reductions for three months
The SriLankan Airlines has said that they have taken measures to preserve the liquidity of the national carrier by negotiating deferred payment plans and deductions with the airline's key suppliers.
These measures include mandatory salary reductions of 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.
These steps have been taken as the airline industry faces its gravest crisis in the modern times globally due to the novel coronavirus outbreak, which results in some airlines to ground their fleet either partially or completely, to discontinue all non-essential business operations and to send their staff on compulsory unpaid leave or to impose salary cuts to minimise costs and maintain their position as viable business entities.
This is a situation the air transport industry has never faced before and is placing an unprecedented stress on the financial viability of many airlines and economies of the countries in general.
However, the management of SriLankan Airlines is taking all endeavors to protect and safeguard its staff and their employment with the total confidence that the airline will collectively overcome these challenges, with the strength of the airline's employees.