14 December, 2017

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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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  • 10
    0

    This is for the bankrupting thee air line. Some where I read, CPC or CEB chairman is asking Rs 10 billion bonus for the same purpose for running the money losing corporation. They want the govt to pur forward a bill on that to the parliament.

  • 12
    0

    So!! Where’s this money coming from Mr PM ??
    You keep making very wrong decisions in the name of our country , this time in the name of the National carrier.
    Hope the rural schools and hospitals are not forgotten by taking away the foreign Aid and
    funding the failed CEO.

    • 14
      0

      People are dying without clean water , clean environment, poor housing and so it goes a long list need to be addressed immediately ,
      W hat the hell is this PM upto.??
      Has he gone to be the biggest MODAYA in the Parliament??
      There are thousands of issues need addressing ASAP, you PM are you Mad???
      Earlier you were dishing out Free Car Permits as though dishing out from your cookie jar.
      All this money belongs to us the People !! Not yours,
      Hope you don’t expect me to say a swear word of you.
      Please just behave like a serious Politician not like a a fool just released from the MENTAL HOSPITAL!!
      Oh God What’s going on ?? All these INBRED IMBECILES RULING THE COUNTRY MAKING DECISIONS FOR US???

    • 1
      1

      What is the difference between the old regime and new one. Same old wine in new bottles: Make hay while sun shines: Plunder the country when you are in power.
      Bond Scam
      High way Scam [High way robbery]
      Selling part of the country. to China: India will also demand a piece
      Civilians will not have money even to buy underwear. after paying the taxes for these culprits who live a luxurious and Majestic life on the plundered money.

  • 12
    0

    SriLankan Airlines is set to award its CEO Capt. Suren Ratwatte,

    Not a bad bonus for managing the decline of the airline, corrupted by Mahinda Rajapaksa’s brother in law. How much bonus did Mahinda Rajapaksa’s BIL get as a bonus besides the air hostesses?

    Do you know you could have got a bigger bonus, had you made it profitable and grow? What was the problem? Skill set? The Airline environment? Mahinda Rajapaksa made such a mress that it takes time, Yahapalanaya time?

    Now how hoes this bonus compare to the bonus Ravi Karunanayaka, aka Ravi Penthouse got, Rs. 165 million, in the form of a Penthouse?

    Time to apply the Einstein’s Theory of Relativity here. Ultimately , it may boil down to some black holes.

  • 11
    0

    In Sri Lanka, if you are a huge failure, you are rewarded handsomely, if you belong to the highest echelons in our society. Millions eh?

  • 33
    0

    Not surprising, after all Ravi K was called the best finance minister in Asia while enjoying a luxury apartment provided by Arjun Alloysius who was behind the biggest fraud committed in Sri Lanka.

    Also now they are celebrating 40 years of politics of Ranil W.This has been a harrowing experience for this country and especially tragic for the UNP. But there are people who say that Ranil speaks good English and has a vision.

    This’ vision’ is shared by a few old Royalists. They are Arjun Mahendran, Charitha Ratawatte ( brother of the rascal at srilankan airline) and Ravi K , the former finance minister and maybe Paskaralingam who is also a former chairman of the airline.

    That time the airline suddenly decided to serve a meal during the very short flight. Why ? Old Paski( that time not so old) made regular trips to Chennai where a lovely lady waited for him ! What a man does after hours is not the thing but the low quality of the guy can be seen when he abuses his power to have a free meal (the business class ticket is free) during the 90 minute flight. Of course all the refugees also benefited and nobody complained, only the airline costs went up ! ( same way Arjun Mahendran bought expensive stuff using the central bank credit card)

    There is this repeating theme of the connection between every corrupt leader and the Srilanakan airline.MR also did the same thing with Mihinair and Sajin Vaas also his joke of brother in law . Premadasa’s son in law was also made a director of the Srilankan at the time.

    • 6
      1

      CT

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

      This is nothing compared to the Rs 2,500 salary increase in 2016 of the public servants. And the estate workers get Rs 730 per day if they pluck 20 kg a day.

      I suggest the government introduce pay cut to estate workers and public servants.

    • 13
      0

      Folks!! It’s time to get rid of all these ageing Senile, Demented , Uneducated Past so called statesmen and women.
      Get Rid of them LOCK STOCK AND BARREL.
      Choose Good Educated ,Honest , Young Blood into the Parliament.

      Time to say good bye to these Rotting Garbage of Politicians , who haven’t got a clue.
      Really time to get lost these useless fellows.

      • 6
        0

        Correction above: Please read as :

        Senile, Demented, UnEducated Past and Present so called Statesmen and Women .

      • 1
        0

        How?

        • 2
          0

          Don’t vote for these idiots.
          Power of the people is much stronger than any money could buy.
          Educate the illiterates, blind and , poor.
          This country need a change.

  • 24
    0

    What a Circus this Airline has become. A small number of people profit at the expense of the entire country!

    Suren isn’t qualified to hold the CEO post – he’s just another unqualified political appointee filling his pockets.

    The sooner this Airline is closed down the better imho.

  • 10
    4

    suren rarwatte was appointed ceo because there were no other suitable applicants
    but he was actually scheduled to be given another post
    it is true he took a big salary cut by leaving emirates to join sri Lankan but that does not justify such a big bonus in an airline suffering huge losses
    the chairman is due to retire so this must be his parting gift

    this will be the new scam after the Russian ship when travis got only one months extension for opposing it
    dogs bark but the caravan moves on

  • 17
    0

    “Is this some sort of a joke?” an aviation expert asked.”

    the whole country has become a joke because of ranil who lives in his colombo 7 world and then only gets out when he comes asking for the vote.A resounding defeat is on the cards for the UNP at the LG elections and ranil and his colombo 7 elite cronies can go home after that.They must be realising that and want to make a buck so public must be vigilant now.Maybe CT has got it wrong.Ratwatte may be trying to give 10 million rupees because it is a performance bonus and he should be giving at least 100 million.The airline should accept his gracious gesture and give the money to a charity.

    ps.The joke country run by the bhuddhist monks has slipped from 71st place to 85 in the competiveness rankings.No wonder people are going to think rajapakshes era was better because it slipped only three places from 68 to 71.When the monks tried to show their leadership with him by saying they are going to come out to the streets he told them do it at your own peril and they had second thought.Everyone knew he was the leader and nobody else.Now we don’t know who is the leader.The army?the monks?ranils colombo 7 elite?Oh god my poor country,what are you doing to it.

    http://reports.weforum.org/global-competitiveness-index-2017-2018/competitiveness-rankings/

    • 0
      0

      shankar Mottaya: Prove that it is run by Buddhistmonks. Ranil and Ravi are Catholics and anglicans. The oppsition is you Tamils. what they do except talk about Communalism ?. why Wijayakala Maheswaran and that MP who supportd LTTE were not arrested yet even they supported the killers who killed that school girl. Is that your side’s democracy,. Weaks and dalits are not heard.

      • 0
        0

        Jim the bescumber

        ranil is a bhuddhist.If he was a catholic or anglican how can he become PM. The monks would have also become bescombers like you playing hell until he changed his religion and became a bhuddhist.So does not this answer your question asking proof that the monks run the country.If ranil is catholic or christian the people will not care and will vote for him as long as he is competent and they like him,but will the monks let him become the PM?

        To become even the cricket captain angelo who was appointed during rajapakshes time was dragged to the dalida maligawa during this governments tenure.You can see how the monks have come out of their holes where they were hiding out of fear once this government came to power.More than ranil it is maithri who is giving the impression of a weak leader led by the monks as when SWRD tore up the banda chelva pact because the monks were sitting on the ground surrounding his residence evry day,thus resulting in a 25 year war whre no monks suffered but so many sinhalese bhuddhist lay people died and and lost their limbs and found it difficult to put food on the table while the fat well fed monks had no problems.Now again they have realised like SWRD,maithri also is a weak leader and have started to bully him.Also the army has started to bully maithri too.It is easy for segments of the society like priests and armed forces and trade unions to sense a weak leader and try to capitalise and run the country through him.Also ranils cohorts and thug gnanasera also thought maitri is a weak leader and went to town but have now realised that though he is weak,not as weak as they thought he was.When public pressure builds up he will do something to ease it off him,but that is a characteristic of a weak leader who reacts to crisis instead of seeing that the problems don’t occur in the first place by for example preemptive strikes on root causes of problems.Both ranil and maithri are reactive,not proactive leaders.

  • 3
    0

    This is how weak our governance is. It is so weak that anybody in command can rob what they please. Of course professional fee is there, but nobody needed SR to that post other than RW. A good govt. servant would have been enough. Governance is family business. So is parliamentary democracy.

  • 1
    0

    “Corruptio optimi pessima ” The corruption of the best is the worst of all, so goes the Latin proverb. Where can this poor Nation turn for solace. Absolutely there is no hope what so ever. The best analysis of the present situation of our country could be summed up as the ‘war being lost for want of a horse shoe nail’. This may not be an apt quotation , but can’t we find a single honest and a trustworthy person in the Govt. to speak up to make a change once and for all. It is crystal clear that those in power are hell bent on retaining the power and capturing same at the next election too., already the message is being aired at a rural political meeting. What will be the promises this time?. your guess is as good as mine mate. If the two leaders are true to their promises , frank and open as politicians should be they should be able to offer an apology to the Nation for their failures and bring about the necessary changes in the Govt. machinery and put all laws in motion without fear or favour you can face the Electorate and a make a successful bid. Of course this requires tremendous courage and will power as you will have to overcome the devilish opposition from those who will fight tooth and nail to thwart your unexpected change of heart. This may be perhaps the one and only opportunity for you two leaders to set an example to all politicians young and old in our country and retire with a peaceful conscience which is much more valuable than the material wealth.

  • 4
    1

    GREED … Is the most dangerous aspect in a human.
    It wouldn’t stop him/her of raping his/her parents to achieve a goal.
    This is a open and shut case in this Country of Corrupt Politicians and their CUP boys.
    Three scores and half of corruption, nepotism and communalism has been the downfall of my blessed motherland.
    Is there a way to salvation ?

  • 4
    0

    Reading Manisha unantenne’s post …as the saying goes ‘ from the horse’ s own mouth ‘ This ass himself identifies the reason why this airline is not a viable one to be up in the Air….
    Yet, he is the CEO and draws a salary and expects bonuses from a ‘ dead horse ‘….

  • 0
    0

    To start with go thro every doc/billing rcvd from other airlines. Reject all invoices rcvd in excess ofUSD3. Then yu will start saving millions. These are all excess billings made either by accident or pure negligence on the part of the acts staff.

  • 9
    0

    Certainly that’s none other than an UTTER JOKE.
    Treasury Bonds was a JOKE!
    Car Permits for the Rogues & Crooks was a JOKE!
    All the Election Pledges had given by both was a JOKE!
    Minister Mrs. Athukorale was Posting here and there without any fruitful results was a JOKE!
    The latest was that the PM. RW has spoken to Public as saying that he had provided Four Hundred Thousands Jobs to whom??? was an UTTER JOKE too!

    Now the UNPers have nowhere to go is a GRAVEYARD JOKE!!!

  • 7
    3

    The current ‘yahapalanaya’ is the worst administration and Ranil is the most crafty and cunning leader (my3 is null) SL ever had in the history. So, this is inevitable.

    Rajapakshe haters, local and international, were smartly hang the ‘corruption’ label to Rajas’. They may have their share but the real thieves are none other than the present losers. In fact, corruption made norm by UNP, during 77-94 period. Then CBK took the baton and made sure the country was below zero in every single aspect. Bond scam, Central hi way robbery, Dumin Disa-Sabitha saga are few cases in point to say the least about losers at present.

    Except to the above blunders, soothing Tamil racists, jeopardizing the country as a whole, postponing elections etc., are few things yahapalanites have done in the name of ‘governance’ for last 2 yrs!

  • 3
    1

    FARKH off….
    Will you pay bonus …even a Rupee…for reducing the Operating Loss…?
    Who the hell these people think they are….?
    whatever the shortcomings …if handed over
    Mr. Dhammika Perera would resurrect the Air Line

    PM is ruining the Country…

  • 6
    0

    Arjuna Mahendran,Ravi Karunanayake and now Suren Ratwatte;;;;;;; The list would go on! Excellent material to make a Film titled Ranil and his Catchers on the lines of Sagarayak Meda of yesteryear!.

  • 6
    0

    Our perception of ‘performance” of a CEO is when by the actions of the CEO, the company improves profits or at least bridles losses.
    Suren Ratwatte has not done anything in the above category and awarding a bonus of SLR 10 million for ig-performance is obscenely obscene.

  • 3
    11

    Oh 10 million.bucks just peanuts. Suren could have easily earned 10 million bucks in 2 months if he was with Emirates. Anyway this is pure mud thrown at suren and srilankan airlines management. Killi Maharaja is behind this shameful act.

    • 4
      0

      So why did Suren leave a well paid job at Emirates? He knew the challenge at Sri Lankan when he joined, therefore, should accept the fact that he has failed & should decline the generous bonus. After all, it’s public money that is propping up the airline & as CEO, he deserves a bonus only if he turned round the business. Managers are payed a salary (& perks in some cases) to do a job but a bonus is paid only in appreciation for an exceptional service, which is usually defined & measured in terms of profitability. Reducing the debt is not good enough. It is expected.

      The top management of UK banks, which were bailed out by the Govt. after the banking crisis few years ago, were prevented from paying them selves bonuses unless they made a profit & paid back the debt to the Govt. Reducing the debt was not good enough even though it may have been the projection for that year.

      I am a branch manager in UK & I will get my bonus, (a modest 15%) only if my net profit (before tax) of my branch is over & above a set target. If profits continue to fall below the target for more than 3 months, I have the board on my back & most likely to lose my job for under performing. I face the Board & my colleagues every month & have to hide my face in shame if I don’t perform. We have a high staff turnover due to the stress of under performing but I knew the risks when I accepted the job & this is the norm in the industry.

      A few days ago, Monarch, a British budget air line which had been operating since 1968, closed down without any notice, leaving passengers stranded, when it couldn’t meet it’s current debts. Sri Lankan airlines have proved over & over again that it is beyond redemption & should be closed down without any more funding by the tax payer.

      • 6
        0

        Raj,

        Suren did not reduce the Debt; in fact he increased it by Rs. 15 Billion to Rs. 90 Billion over the last two years.

        He should have been fired a long time ago but cannot as he is the brother of Ranil’s good friend and adviser.

        The President as usual is too week to do much.

    • 1
      1

      Rohan Gunarathne: Why did he join a mismanaged airline. IT says, Sri lankan air lines over 7000 employes to look after 24 planes. Not only Kili Maharaja. How About Maithripala Sirisena, Ranil wicramasinghe and I know Nothing Ravi all ganging up to rob the Central Bank ?

    • 2
      1

      According to Rohan Gunarathen, this CEO has come to money losing air line and keep it the same way but he wants the bonuses paifd by a proftiable airline, So, what were the intentions of this CEO. IT should be all profitting from a dieing airline.

  • 7
    0

    Hon. PM. You are being highlighted yet again. We presume your Chief Adviser may have already briefed you on the suitability of this well and justly earned payment by his brother. No worries Sir, Country is flowing with milk and honey. Even in Prison five star food is being served we are told. May the triple gem bless our present and past leaders.

  • 2
    6

    Rajeewa Jayaweera was not.selected by Ranil to head srilankan airlines. So he has for some time started attacking the CEO and director board of srilankan airlines along with some cheap media coolies.

    • 0
      1

      Annesley dias the modaya: Is Rajeew Jayaweera wrong ?. Why there is a ten million bonus to maintain a money losing airline. any dumb can run a money losing air line which only 24 air planes but over 7000 employees and a very indisciplined air crews.

  • 8
    0

    What is the reason for this bonus? Is it for his performance or for the friendship the PM has with him? The airline is losing billions of rupees, and still has millions of money to pay for their CEO. These types of jokes and jokers are only found in the island which is called by the name: “LOKEN UTHUM RATA” which means the the most privileged country in the world.

  • 6
    2

    IS SIRISENA FAST ASLEEP????? These roughes are ruining our country UNDER A ILLETERATE YAHAPALANAYA.Poor people are suffering due to high cost of living while PM’s CROOKS ARE GETTING BILLION Rs PERKS.
    People ARE RESPONSIBLE FOR THIS AS ITS THEY WHO VOTED FOR THESE ROUGHES TO DEFEAT MR,WHO ATLEAST DID SOME GOOD DEVELEPMENT IN SRI LANKA!!!

  • 5
    0

    If this is true, all employees of Sri Lankan must strike against this injustice

  • 5
    0

    First of all people never wanted CEO and other chiefs to RUN the airline, even the last set of rouges did the same. We need these top guys to make changes and improvements, not suck the blood off the employees. This idiotic CEO shows that he is dumb when ever he opens his gap and his interviews he uses “I” and “my”, speaks as if this is his freaking family property. A clear sign of insecurity. The revenues are better than last year since Sri Lankan added more flights to new destinations and absorbed the Mihin flights. That’s the reason the costs are Also high comparatively. This foolish board and the ministry cannot understand this simple reason. These rogues are sailing on ignorance of others, supported by some revenue junkies. PM is on his way out if anyone thinks that he is going to continue in this manner ruining the country and its institutions then one needs his head checked. This 10m is for distribution amongst the family and brothers, may be for the up coming elections . Even last CEO openly said he is funding one of the young Rajapakse’s election campaign in UVA, after claiming some commission.

  • 3
    0

    “Lets divert whatever left in the sinking ship to our pockets.” may be what they are thinking. Once declared bankrupt, all corruption will bury with it.

  • 2
    0

    I hope all the people who voted for these certified loosers masquerading as good governance advocates are happy now!

  • 5
    0

    Our Prez who is a blind man have no brains too. This is the last chance for MY3 & RW. The only next option is JVP.

  • 5
    1

    Performance Bonus for CEO of the Sri Lankan Airlines???? And Rs. 10 million? Holy Cow. Is this a joke?

    Suren Ratwatte should be relieved forthwith from his services for under-performance. He doesn’t deserve a Performance Bonus when the Airlines make billions of loses. Seriously, who approved this type of waste of public money???

    • 3
      2

      Chimpa your important customer in Orange garbs called Buddhist Monks did. They approved the money and asked to bankrupt the airline. It appears these low life monks control the country. So go to the respective chapters and ask them. All these filthy monks should be lined up and s&^t.

      • 0
        3

        Tamil from the North

        Wait and see what we would do. We are building a Sinhalese Buddhist force sans politics. We take this country from traitorous politicians who are against Sinhalese Buddhists and hand it over to Maha Sangha. Tell the morons in your government, Tamil and Muslim racists and separatists to stop if they can.

        • 2
          0

          Chimpa: Wait and see what we would do. We are building a Sinhalese Buddhist force sans politics.

          TFN: hahahahahaha………………hahahahaha. Where are you building it? in your backyard where you do your hooker duties? Keep dreaming you mutt!!!

        • 3
          0

          Champa the patriotic practitioner of the oldest profession,

          “We are building a Sinhalese Buddhist force sans politics.”

          Good, we know it is the Sinhala/Buddhist fascist equivalent of Schutzstaffel. Who is going to command these thugs, Dr Gota, saffron clad thug Gnanasara, Wimal Sangili Karruppan, …. Or yourself?

  • 3
    0

    LOL………..performance bonus for bankrupting the airline. Did he award it to himself? Or, do we have a blind beggar of a minister in charge? Where is the PM, still counting his bond scam proceeds in the counting house?

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