Vietnam Airlines to slash wages in half to fill financial hole

Vietnam Airlines plans to reduce the wages of flight staff by roughly half this year as part of a cost-cutting campaign to win a government bailout that would cushion the financial distress caused by the global pandemic. The average monthly wage of pilots will drop by 52% to 77m dong ($3,320), according to local media reports. Flight attendants and ground crew will incur a 48% and 45% cut, respectively. Vietnam Airlines, which forecasts a loss of 15t dong this year, indicates it will trim costs by 68%, with labor expenses being a main target. Last month, the flag carrier requested 12 trillion dong in emergency government financing. "Without the support, we will be in an extremely difficult situation at the end of August," said CEO Duong Tri Thanh. The biggest reason for the financial hardship is the grounding of international flights. Vietnam Airlines has attempted to restart the flights, but it has yet to realize its goals.<br/>