SINGAPORE - Citing an oversupply of pilots and slow growth, Singapore Airlines (SIA) will be letting 76 pilots go before the expiry of their fixed-term contracts by June 30 this year.
SIA said in a statement today that pilots had previously been let go only when their contracts expired.
The Airline added that it will provide assistance to help the released pilots pursue employment opportunities within the SIA Group and with other airlines.
Previously implemented measures to address the surplus of pilots include voluntary no-pay leave and the suspension of the cadet pilot recruitment program.
More details are available in the press release below:
SIA to release pilots on fixed-term contracts
Singapore Airlines has taken the difficult decision to advance the planned release of 76 pilots who are employed on fixed-term contracts. The Airline had previously been releasing pilots only upon expiry of their contracts.
The pilots are expected to be released by June 30, 2013. The Airline will assist them to pursue employment opportunities within the SIA Group and with other airlines.
Singapore Airlines currently has a surplus of pilots to its operational requirements, as the global financial crisis of 2009-10 had resulted in excess capacity and slower-than-expected growth.
The Airline had earlier implemented other measures to address the surplus, such as voluntary no pay leave and the suspension of cadet pilot recruitment.
Pilots employed on fixed-term contracts make up about 4 per cent of Singapore Airlines' total pilots' workforce.