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Asiana bosses take pay cut amid coronavirus cost-cutting
The top brass at South Korea’s Asiana Airlines will go without their full salary as the airline tightens its belt amid the fast-spreading COVID-19 outbreak.
Han Chang-soo has promised to return 40% of his annual salary, and other executives will return 20-30% of their wages.
"The intention is that management will take the lead in overcoming the crisis," Han said.
Asiana had well-documented financial issues before the virus outbreak and South Korea has been the hardest-hit country outside China.
It has recorded 10deaths and nearly 1,000 confirmed cases of the virus.
The airline is cutting the number of routes to China by 79%, and across Southeast Asia by a quarter.
Additionally, all employees have been asked to take 10 days of unpaid leave.
This measure will help ‘drastically reduce non-operating activities that are not directly related to profitability,’ it said.
It could get much worse for South Korea with an increasing number of countries issuing travel advisories.
Multiple foreign airlines have cancelled flights including AirAsia, Cathay Pacific and Air New Zealand.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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