Thai Airways board approves 6.77% average
The national carrier's board of directors yesterday approved extra financial incentives and an increase in salaries as requested by the Thai Airways International Union, ending a dispute that started last month.
Thai Airways International's board, chaired by Ampon Kittiampon, agreed to increase salaries for employees at Levels 1-7 by 7.5 per cent on average, while Level 8-10 workers will enjoy an increase of 5.75 per cent and those at Level 11 will get a 4-per-cent rise. Overall, the average increase in salaries is 6.77 per cent, effective last month.
The board also approved an additional Bt300 million to distribute to all employees equally. Currently, THAI employs 26,000, so on average, each staff member will receive more than Bt12,000 from the incentive package. The sum is partly aimed at compensating those who were hit by the flood crisis in 2011. Another objective is to narrow the salary gap caused by an imperfect KPI (key performance indicator) system, said company president Sorajak Kasemsuvan.
Previously, the board approved a one-month bonus at the end of 2012. It also approved Bt200 million for KPI incentives. Sorajak said the board's move yesterday was aimed at increasing staff morale. The company hopes all employees will work together to achieve 12-per-cent growth in revenue this year.
He said the company would also appoint a coordinator to improve relations between management and the labour union. He is willing to talk with the union to solve any problem, especially unfair practices.
The stronger baht has had a slight impact on THAI. To deal with this, it plans to set up a committee to manage cash flow, inviting professionals from financial institutions to be members.