The Chairman of Turkish Airlines Board of Directors made significant statements following the salary raise.
There is a significant change in the leadership of TGS, a subsidiary of Turkish Airlines (THY). TGS Chairman Ahmet Bolat announced in his latest statement that he is handing over his position to Mehmet Akif Konar.
As part of the new regulations, the improvements made to employee salaries have brought a significant burden to the company budget. According to the calculations, multiplying the salary difference by 1.7 reveals the cost of this additional income to the company. Multiplying this figure by 2.66 shows the cost of two months’ early payment. Considering the total number of employees is approximately 40,000, the impact of this improvement on the budget becomes clearer.
Here is Ahmet Bolat’s Statement:
“Dear TGS friends, everyone can estimate the extra burden brought to the company by the recent improvement with some calculations. If you multiply the difference in your salary this month by 1.7, you will find the cost of this additional income to the company. Then, if you multiply this by 2.66, you will find the total cost of bringing the payment forward by two months. Finally, if you multiply this by approximately 40,000 (the total number of employees in our three companies), you will find the total impact of this improvement on the budget.
As you know, such a budget is directly provided by THY because our three companies operate on a cost-plus-profit basis. Therefore, for the last 2-3 weeks, we have been busy finding this money. A part of the $1 billion added value we need to include in the 2024 financials, which I briefly mentioned at the picnic today, was supposed to come from reducing costs. Therefore, we need to generate this extra money given to our three companies through revenue-increasing projects.
This explanation was a bit detailed, but I did it intentionally. As seen in the picture, today I signed a TGS decision for the last time. It was the improvement decision I explained above. As of June 1st, I am handing over the chairmanship of the TGS Board of Directors to Mehmet Akif Konar. I have known him for many years while we served as Deputy General Managers in adjacent offices at Turkish Airlines. I am confidently entrusting this duty to him; you are in good hands!
From now on, I will focus more on THY projects to plan and implement the necessary actions in our ‘Next 10 Years Strategy’ and to achieve the ‘Plus One Billion Dollars’ needed this year. Therefore, until the end of the summer, we will be posting more informative updates like ‘news from us’ on this platform. Please direct your Human Resources-related questions to your respective supervisors in your departments.
I believe that all my colleagues who have diligently and resolutely carried out every task given to them over the past 20 years and have shaped today will also do their best to focus on this new goal. Starting from September, when we begin to ‘harvest,’ I will host some of you in my office on certain days of the week for a chat. Until then, take care and may God bless you.
Two Important Decisions: Age Limit Raised to 45, Quota Increased to 250
Today, we made decisions on two matters: we raised the age limit for these transitions to 45 and increased next year’s quota to 250. I invite my colleagues at TGS, TSS, and Do&Co to be among these 250 people next year.”
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