Coronavirus: AirAsia founders not taking salary; staff accepts pay cut up to 75% | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Saturday
January 28, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
SATURDAY, JANUARY 28, 2023
AirAsia founders not taking salary; staff accepts pay cut up to 75%

Global Economy

Reuters
12 April, 2020, 01:35 pm
Last modified: 12 April, 2020, 02:45 pm

Related News

  • India launches world’s 1st intranasal Covid vaccine
  • US CDC still looking at potential stroke risk from Pfizer bivalent Covid shot
  • China says Covid deaths down by nearly 80 percent
  • Updated Covid vaccines prevented illness from latest variants -CDC
  • US proposes once-a-year Covid shots for most Americans

AirAsia founders not taking salary; staff accepts pay cut up to 75%

AirAsia has also urged customers to accept credit offers for flights canceled instead of refunds

Reuters
12 April, 2020, 01:35 pm
Last modified: 12 April, 2020, 02:45 pm
An AirAsia Airbus A320-200 plane arrives at Kuala Lumpur International Airport 2 (KLIA2) in Sepang, Malaysia Dec. 13, 2017/ Reuters
An AirAsia Airbus A320-200 plane arrives at Kuala Lumpur International Airport 2 (KLIA2) in Sepang, Malaysia Dec. 13, 2017/ Reuters

The founders of Malaysia's AirAsia Group Bhd will not take salaries and its staff has agreed to an as much as 75% cut in pay due to the impact of the novel coronavirus outbreak on the airline, its chief executive said late on Saturday.

Tony Fernandes said in an Instagram post that he and Executive Chairman Kamarudin Meranun "will not be taking a salary during this period", while staff from across the business "have accepted temporary pay reductions of anywhere between 15-75%, depending on seniority, to share the impact this is having on our business".

The budget airline has no incoming revenue and 96% of its fleet is grounded, Fernandes said.

"We still have significant ongoing financial commitments such as fuel suppliers and leasing agents," he said.

The airline has retained all its staff.

AirAsia has also urged customers to accept credit offers for flights canceled instead of refunds.

AirAsia has suspended most of its flights since March and its long-haul arm, AirAsia X Bhd, parked most of its aircraft at its Kuala Lumpur hub until May 31.

Coronavirus chronicle / Top News

AirAsia / Coronavirus impact / fighting coronavirus / Coronavirus Pandemic / Coronavirus / COVID-19

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • How will Bangladesh pay for massive upcoming power projects this year?
    How will Bangladesh pay for massive upcoming power projects this year?
  • Photo: Mumit M/TBS
    Additional Tk2,682cr sought for Padma Bridge project
  • Israeli forces work next to a covered body at the scene of a shooting attack in Neve Yaacov which lies on occupied land that Israel annexed to Jerusalem after the 1967 Middle East war January 27, 2023. REUTERS/Ammar Awad
    Seven dead in synagogue attack outside Jerusalem

MOST VIEWED

  • The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS/Amit Dave/
    Adani rout crosses $51b as stocks plunge by daily limits
  • Freshly harvested eggplant bags are loaded on a cart at a field of farmer Mor Kabe, on the outskirts of Notto Gouye Diama village, Thies region, Senegal January 24, 2023. REUTERS/Zohra Bensemra
    Development partners commit $30 billion to food production in Africa
  • FILE PHOTO: The Intel Corp logo is seen on a display in a store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew Kelly/File Photo
    Intel's 'historic collapse' set to erase $10 billion from market value
  •  Gautam Adani, center.Photographer: Tomohiro Ohsumi/Bloomberg
    What really worries Indians about Adani's empire
  • Global central banks preaching on pay are enforcing squeeze too
    Global central banks preaching on pay are enforcing squeeze too
  • FILE PHOTO: People walk past the Central Bank headquarters in Moscow, Russia February 11, 2019. REUTERS/Maxim Shemetov/File Photo
    Russian banking profits could exceed 1 trillion roubles in 2023, says c.bank

Related News

  • India launches world’s 1st intranasal Covid vaccine
  • US CDC still looking at potential stroke risk from Pfizer bivalent Covid shot
  • China says Covid deaths down by nearly 80 percent
  • Updated Covid vaccines prevented illness from latest variants -CDC
  • US proposes once-a-year Covid shots for most Americans

Features

Now is the time to focus on FDI composition

Now is the time to focus on FDI composition

31m | Panorama
Sketch:TBS

Why we need consumer education for consumer wellbeing

20h | Thoughts
Dr Ahsan H Mansur, Executive Director, Policy Research Institute. Illustration: TBS

Twin shocks call for stronger domestic policy response

21h | Thoughts
December-er shohor, taxi taken for airport and the Park Street bathed in lights. Photo: Jannatul Naym Pieal

Exploring Kolkata on foot, empowered by Google Maps

22h | Explorer

More Videos from TBS

Kajol’s road paintings bring change in Gafargaon

Kajol’s road paintings bring change in Gafargaon

1d | TBS Stories
Carew & Company witnessed a remarkable growth

Carew & Company witnessed a remarkable growth

1d | TBS Stories
Gavi may have to leave Camp Nou

Gavi may have to leave Camp Nou

11h | TBS SPORTS
After all the controversies, how is Shah Rukh Khan's ‘Pathaan’?

After all the controversies, how is Shah Rukh Khan's ‘Pathaan’?

13h | TBS Entertainment

Most Read

1
Picture: Collected
Bangladesh

US Embassy condemns recent incidents of visa fraud

2
Four top bankers arrested in DSA case filed by S Alam group 
Bangladesh

Four top bankers arrested in DSA case filed by S Alam group 

3
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

4
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

5
A frozen Beyond Burger plant-based patty. Photographer: AKIRA for Bloomberg Businessweek
Bloomberg Special

Fake meat was supposed to save the world. It became just another fad

6
Representational Image
Banking

Cash-strapped Islami, Al-Arafah and National turn to Sonali Bank for costly fund

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]