23 October, 2017

Ratwatte To Get Rs 10 Million Performance Bonus For Overseeing SriLankan Airlines’ Decline

SriLankan Airlines is set to award its CEO Capt. Suren Ratwatte, the bother of Prime Minster Ranil Wickremesinghe’s senior advisor Charitha Ratwatte, a performance bonus of Rs 10 million despite the airline continuously making losses.

CEO Suren Ratwatte

Sources close to the Board of Directors of the national carrier told Colombo Telegraph that they had vehemently opposed the proposal put forward by Chairman Ajith Dias, seeking a Rs 10 million bonus for his CEO, whom he claims achieved an actual operating deficit in comparison to the budgeted operating deficit of the airline.

“This is the first time in the world where an airline despite losing billions of rupees is attempting to reward a CEO for reducing costs, Is this some sort of a joke?” an aviation expert asked.

“We even don’t know his salary and other perk details,” he said.

The Airline Pilots Guild of Sri Lanka despite using the Right to Information Act has been deprived of obtaining the salary and other perk details of CEO Ratwatte from the airline’s management. They have now raised their concerns with the Right to Information Commission.

Writing to Colombo Telegraph, former aviation professional Rajeewa Jayaweera said:  In a bizarre development, a proposal has been made to award a performance bonus of LKR 10 Mn to CEO Ratwatte on the basis, he had achieved his target. What is meant by achieving target is Actual Operating Deficit being less than Budgeted Operating Deficit. It is understood his contract letter contains a clause of a performance bonus of LKR 10 Mn in case of achieving his target.”

CEO Ratwatte lately took to the media and on several occasions blamed the government for interfering into the day to day operations of the airline.

In a televised interview he went on to say “We have started our restructuring programme, but we need approvals from the government of Sri Lanka who is the primary share holder before we can engage fully in the process. We also need approvals from our line ministry and the cabinet.”

“If we have to seek higher approvals often it makes it very difficult to run a commercial airline,” Ratwatte said. “The Board of Directors has to make decisions as they occur, the government approval process sometimes takes six months,” CEO Ratwatte went on to say.

Raising four major concerns the CEO Ratwatte stated “the lack of cash infusion forces the airline to seek short term loans on high interest which eats into our revenue, high fuel prices in Colombo forces us to buy fuel externally, unwanted high costs of aircraft lease agreements made by the previous government and excess staff in comparison to the aircraft per employee ratio is what needs to be looked at urgently. (By Manisha Unantenne)

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  • 8
    2

    In the early 80’s Emirates started with a couple of PIA wet leased flights. Now one of the world’s best airlines (266 planes) brand new wide bodied aircrafts being introduced from time to time. Another is 35 km away from Dubai, the Sharjah based air arabia budget airline (36 aircrats) and the Abu Dhabi based, a mere 150 km from Dubai, Ethihad airways (115 odd planes), all these airlines are minting money in billion Dirhams revenue, no other airlines is making. SriLankan, while in partnership with the Emirates had made good profit, but due to the selfish MR, his astrologer and priests gaving a wrong verdict to severe the partnership with Emirates thus missing the opportunity of Srilankan become self sufficient airline. Due to foolishness of blind faith, idolatry, and the moosala yellow robes, no Blessing from the Almighty and no prosperity. This is the raw truth.

    • 4
      4

      Srilankan Airlines are mainly used by ardent supporters of MR who just wants to hold the tail end of the Airline before it submerged in the deep blue sea.
      The other groups who uses the Airlne for the comfort of flying direct from UK without a stop over.
      That’s the only ,only plus point apart from the bad publicity and bad management.
      Srilankan is also used for transit passengers from Mali and other destinations.
      The bad management includes BAD BEHAVIOURS OF AIR STEWARDS AND STEWARDESSES TOWARDS THEIR ARDENT SRILANKAN TRAVELLERS.

      ON THE SAME NOTE EMIRATES EMPLOYS MULTI NATIONAL MULTI CULTURAL AIR STEWARDS AND STEWARDESSES WHO TREATS ALL TRAVELLERS EQUALLY., WHO ARE VERY PLEASANT , EAGER TO HELP CUSTOMERS.

      Our village O/L educated Lamissus and Kollas in National costumes as trolley dollies not knowing their real purpose of being there is incredible.
      Down fall of the Airline due to these ” Trolly Dollies ” behaviour too towards the Srilankan travellers who uses the Airline frequently.
      Most of the Srilankan people when money and power gets much in their heads , their behaviour towards others disintegrates , they forgets the simple kindness and respect to others.
      What happened to BUDDHA TEACHINGS??? SAME AS THE TEACHINGS AND THE BEHAVIOURS OF THE YELLOW ROBED MONKEES???

      • 2
        1

        Analyst
        You seem to take every opportunity to denigrate Buddhism . A real low life .

        • 2
          1

          Nosey Parker
          The religion had not taught good clean living , The creation of sinners of this birth and the next births continues to the future generations too.
          I value and respect Lord Buddhas wisdom and virtue.
          The present day propaganda has become a mumbo jumbo religion of a joke.
          If the Religion need to be given centre stage it need to act and prove its worthiness .
          Don’t you think ? What we see in present day yellow robed mullahs action on the streets? It’s the start of the denigration of anything let alone of religious nature who are supposed to be in Temples or caves chanting wisdom , spread wisdom and so on like Lord Buddhas teachings.
          The greediness among the Monks , behaviours of the Monks, taking up Violence, these are unacceptable to Buddhism.

          I am not a Religious Hater , I cannot believe in a Religion taken to a different level!!
          We cannot and should never be BLIND FOLLOWERS.
          You should know who is the low life here , certainly not me.

      • 2
        0

        Please tell me what Buddhist teaching got to do with Sri Lankan airlines.

        You talk respect and kindness and see that you are writing, so much hate and disrespect. Having travelling most other international air lines and I would still consider Sri Lankan the best. The stewards and the stewardesses are the most kind and considerate and they try their best make you comfortable. I have never had a bad experience.

        My only issue with sri lankan is that having to sit next to AH like you and a 10 hr flight.

    • 0
      0

      This comment was removed by a moderator because it didn’t abide by our Comment policy.For more detail see our Comment policy https://www.colombotelegraph.com/index.php/comments-policy-2/

  • 8
    1

    This is another reason I will never fly Srilankan Airlines. bunck of fucking crooks are running the airline to the ground. What a joke of a bonus to the head crook

  • 1
    0

    This comment was removed by a moderator because it didn’t abide by our Comment policy.For more detail see our Comment policy https://www.colombotelegraph.com/index.php/comments-policy-2

  • 5
    0

    There are those who are benefiting from the ‘sins’ of this regime in the same way there were those who benefited from the ‘sins’ of the previous regime. Only such beneficiaries have changed but such ‘sins’ go on unfettered. Can’t such beneficiaries also be called ‘parasites’?

  • 8
    9

    Now why all this huge fuss about 10million bucks. As i said in my earlier post Emirates the best airline where any pilot would dream of working and suren could have earned in millions plus other world.class perks. This is simply mud thrown at him instigated by media coolies killi and Rajeewa.
    When there are other important issues
    and giving.prominence to 10million is
    Simply outrageous.

    • 6
      1

      Suren would have had nowhere near the perks he gets now at Emirates, He would probably have been forced out by now to make way for the all the UAE locals coming up in the ranks. Just dumb luck to have a brother in the PM s office

  • 6
    1

    He should join Perpetual Tresuries to get a better bonus. So he is only second to MR Palisena

  • 8
    1

    Rohan Gunaratne

    What is outrageous is that there are still people like you who approve of such despicable acts!

  • 3
    0

    What has he done to deserve this bonus and on what grounds ? He could not pass the flight simulator test, (and got caught out making a total balls up ) and despite being an airline pilot (who opens his mouth and lets his belly rumble), has no qualifications to run a company other than what he has just done – run the airline to the ground ……… THIS IS OUTRAGEOUS and he should be relieved of his duties …… he does not deserve a penny from where I sit ….. and the GOSL approve this ? What on earth ………..

  • 6
    3

    After the new management took over in 2015 suren did a complete overhaul in srilankan operations worldwide. I used to fly.Srilankan.frequently and most of the station managers posted overseas told me that it is far better now after the new management takeover. Most of the CT comments here are anti UNP.

    • 0
      0

      In the west many airlines went bankrupt. Even in Asia many air lines restruectured. It is not difficult to find experienced pilots if Sri lanka wants. Instead of salary, an opportunity live in the tropics, a house in a nice environment woulbe be an added bonus. So, this guy is not an asset to the air line except he gets plump position juse because he was a pilot of a Ranil crony. Sri lankan air line is a bankrupt. So, he is asking to pay a rs 10 million bonus for managing the bankrupt air line as a bankrupt ariline.

  • 2
    3

    All culprits are Catholics,(ruling elites too Catholics(present/past),some pretending as Buddhists)since independence.poor masses have no idea.

    • 1
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      Aryan

      By any chance you are related to the South Indian film star Arya?

      “some pretending as Buddhists)since independence”

      Well said, you meant Rajapaksa clan didn’t you? They claim being Sinhala/Buddhists and not Buddhist or Sinhalese.

    • 4
      1

      Aryan,
      you culprit , kindly leave the Catholics out. Do not repeat do not start another religious war. People like you are a damn disgrace to civil society and should be locked up and the key thrown away.
      There are a lot of good people in your country of all religions and faiths and just because a wanker like you is a trouble maker does not mean that all are same.
      Just get on with your life looking at your porno pictures through your mobile phone and wanking off in a dark corner. Be careful too much wanking is bad and can cause high blood pressure and heart failure. Hope you are not a pheadophile and a sex maniac but just a harmless wanker.
      Sri lanka is a lovely country with many good people but its a pity that wankers like you exist among them.
      Good luck in your wanking and may the poor masses prosper in life.

  • 3
    2

    So what about it ????????????????????
    Everybody is corrupt, so its nothing new.
    Just get on with life and turn to corruption.
    That’s all.

  • 2
    3

    No dear,not just MR,but JRJ,Ranil,son of Albert Sirisena,Solomon B,Jhon K,Srimawo B,son of Richard Ranasinghe,D Senanayake etc…………………….poor Buddhists been looted and killed by them.

  • 1
    0

    If and when the Colombo/Melbourne fight eventuates, Suren can enjoy weekends at his Melbourne penthouse.

  • 2
    0

    What’s the big deal guys?… If I’m the next CEO of this company and during my recruitment if I say I want a shit load of 100 MN LKR as annual bonus fixed and the blood recruitment team says “Ha” followed by BoDirectors approval, then am I at fault to it?…

    Be easy boys. Look at the bigger picture. In first place who allowed these kind of incentives during recruitment?… Who said ‘Ha’?…

    It’s the Human Remains Division. So now blame them! ~ Not the candidate!

    Ha da?… :D

  • 0
    0

    Rod Eddington and his marauding board of directors at Ansett Airlines Australia voted each other a million dollars bonus per director for making a 5 Million $ loss instead of the budgeted 25 million loss in 1999.
    Ajith ” textile specialist ” Dias must be a protege of Rod Eddington.
    Ansett Australia went bankrupt in 2001 leaving multi million debts.

  • 2
    0

    What is 10 million. Its nothing for CEO of an international airline. I dont know how good of a CEO suren is but if he is doing a good job, pay him well and try to keep him. If this position goes to a forigner, u will end up paying millions of dollers.

  • 0
    0

    Being in the middle east for several years the joy and satisfaction of travelling back to your mother land immaterial even if it lacks the luxury of other airlines is some what of a consolation. The sight of your own country people seated , meeting them and talking to them has already given one the feeling of home even before the aircraft would take off to destination. Dubai/Colombo

    It is with sadness to note the most profit making ventures in our country has been exploited Sri Lankan Airlines enjoyed a very passenger boarding every time they took off from UAE. The airline has made excellent profits which depicts in the books ( I wonder if it is cosmetic figures) but in reality Sri Lankan Airlines was highly patronized by our Sri Lankan whenever they departed to Colombo. However the present board and CEO does not have the academic to run this profit making airline he is very much technical not a broadband enterprising individual. This again only depicts the cause of nepotism which is purely the creation of Prime Minister would inducted his College friends in such lucrative positions thus today we are faced with such a situation.

    I am sure in the world no politician is allowed to influence government institutions on their own whims and fancies to gain credit. I feel the Airlines and Aviation Board should be the ideal screening board to recruit an individual to such Senior Management position.

    Overall I loved flying Sri Lankan loved the pamper and hospitality it brings you a smile even before you arrive to your destination. Finally gentleman please guard against your views and focus commenting on the desired subject instead of involving religions. We all pray to ONE god and our belief are with his all mighty . Instead of whining here why dont we all take the initiate and come up with an idea where we could make our national airline GREAT AGAIN

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