|Quoting PanHAM (Reply 9):|
Apply the SQ cost base and SIN work rules to Germany, otherwise you compare apples and peaches.
In the 2011 annual report the LH
Group had 116,000 employees and staff costs were 6.8 bil Euros making for EUR58,000 cost per employee.
In the same time period, SQ
(parent airline) had 22,000 employees and staff costs of SGD2.26 bil or EUR1.41 bil making for a wage bill of EUR64,000 per employee.
Sure we're not comparing apples and apples because I would really like to compare LH
the airline vs SQ
the airline, but I don't think their staff costs are too far apart. If not for the plunging EUR against the SGD
staff costs would be marginally lower than LH
From what I understand from SQ
as a standalone destination never made money but in SQ
's management accounting they take the profitability of the whole route SIN
vv which as a whole is profitable.
But devoting 3 A380s to this route with it sitting on the ground all day in JFK
, there are probably better ways to utilise the asset.