CORONAVIRUS | Malindo Air has decided that most of its staff will have to go on unpaid leave from April onwards as the company grounds all flight operations.
The company's CEO Mushafiz Mustafa Bakri told staff yesterday that only specific individuals will have to report for work and will be paid on a daily wage basis.
This policy, communicated through a company-wide memo, will be in place indefinitely.
"It means I am deemed to be furloughed with no pay," said a senior Malindo staff who declined to be named because he was not authorised to speak to the media.
The source said the company was also waiving bonds and notice periods, allowing staff to leave if they wish to do so.
Mushafiz had also informed Malindo staff that the company has approached the Finance Ministry for help to pay salaries and expect some positive response.
In early March, Malindo had ordered its staff to take a 50 percent pay cut and two weeks of unpaid leave.
Malindo's majority shareholder is Indonesia's Lion Group.
Unlike main competitor AirAsia, Malindo Air, as of fiscal year 2018, has not been able to turn a profit since it was formed in 2013.
AirAsia's boss Tony Fernandes said although his company had enough cash to tide through 2020, it was still hoping for a loan from the federal government. - Mkini
Unlike main competitor AirAsia, Malindo Air, as of fiscal year 2018, has not been able to turn a profit since it was formed in 2013.
AirAsia's boss Tony Fernandes said although his company had enough cash to tide through 2020, it was still hoping for a loan from the federal government. - Mkini
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.