Japan Airlines (JAL) said today that its executives would receive no pay in December as the struggling carrier needs to cut costs in the face of massive losses.
The move will affect JAL president Haruka Nishimatsu and some 70 other company officials, a spokesman for the airline said.
JAL also wants to skip payment of customary winter bonuses to 17,000 non-executive employees although a formal decision has not been made yet, he said. 'Since we have asked for public money, we must strive to cut costs,' the spokesman said.
Debt-laden JAL, Asia's biggest carrier, is trying to rehabilitate with the support of a state-backed corporate turnaround body. It plans to cut thousands more jobs and scrap loss-making routes.
Unlike their US peers, Japanese executives have largely avoided a row over excessive corporate pay during the economic downturn by cutting their own pay and making other financial sacrifices.
Nishimatsu is known for taking the bus to work and lining up with other employees for lunch in the company cafe.
