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First class is better than being CEO
Singapore Airlines has its priorities in order. Chew Choon Seng, the CEO, just saw his salary fall by 20 percent. And, the carrier has had to keep some planes on the ground. The decline in the travel market is taking a toll on everyone ... except the passengers in the first class cabin. The airline left intact the $8 million committed to offering Dom Perignon champagne to its best passengers.
First and business class are responsible for 40 percent of the airline's annual sales, so Chew needs to find a way to keep cheeks in those high-priced seats, especially after two quarters of losses in a row -- Singapore Airline's worst in seven years. Chew says he's starting to see the upscale passengers come back into first class, but there's still work to be done.
Don't worry, Chew, there's some good news in all this: get those top-shelf passengers back to drinking Dom, and you'll probably get your salary back. Hell, you'll be able to pick up a bottle of bubbly to call your own.
[Photo by Richard Moross via Flickr]