Singapore Airlines gives 8-month salary bonus to employees

By Dat Nguyen   May 18, 2024 | 12:00 am PT
Singapore Airlines gives 8-month salary bonus to employees
Singapore Airlines' jets seen at Changi Airport, Singapore. Photo by Reuters
Singapore Airlines will give each employee a bonus of nearly eight months of salary after posting record profits.

The profit-sharing bonus of 7.94 months is the highest in its history, according to a presentation by CEO Goh Choon Phong seen by Channel News Asia.

Last year the company gave each employee a 6.65-month bonus.

Singapore Airlines posted a record S$2.67 billion ($1.98 billion) annual profit in the fiscal 2023-2024 year, up 24% year-on-year.

The airline said near-term demand for flights remains healthy as robust appetite for travel and a buoyant cargo sector worked to offset competitive pressures, higher costs, geopolitical tensions and economic uncertainty, Bloomberg reported.

Last year, Singapore Airlines was awarded the World's Best Airline by Skytrax - an international organization specializing in ranking global airports. This is the 5th time the company has been awarded this award.

CEO Phong said that the airline’s employees have sacrificed a lot to help it recover from Coivd-19 challenges.

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