SIA Engineering (SIAEC), the aircraft maintenance arm of Singapore Airlines (SIA), announced yesterday that it is slashing the wages of management staff to reduce costs.

The wage cuts, which take effect from June 1, will affect 89 management staff. Chief executive William Tan will take a 20 per cent pay cut, while other senior management staff will receive pay cuts ranging from 10 per cent to 14 per cent.

This is despite SIAEC posting a fourth-quarter profit of $65.5 million two weeks ago, up 18.7 per cent from $55.2 million a year earlier.

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