Singapore Airlines hands out 8 months’ bonus following record annual profit

Singapore Airlines hands out 8 months' bonus following record annual profit

SINGAPORE: Singapore Airlines ( SIA ) staff will receive a bonus of almost eight months ‘ salary, following the airline’s record earnings for a second straight year.

Screenshots of a lecture by SIA CEO Goh Choon Phong, seen by CNA, indicated that employees may receive 7.94 months ‘ worth of income- sharing bonus, the highest in the airline’s history.

It exceeds next year’s history of 6.65 months in profit- sharing reward. As a reward for their efforts during the COVID- 19 pandemic, available employees even received an ex-gratia bonus of up to 1.5 weeks.

This year’s car extra was also reported by Bloomberg, which cited a source familiar with the matter.

CNA has contacted Singapore Airlines and its low-cost company Scoot for opinion.

Last month, Scoot workers were given a performance benefit of 4.76 weeks and an ex-gratia reward of up to 1.5 months.

On Wednesday, SIA reported a record profit of S$ 2.68 billion ( US$ 1.99 billion ) for the fiscal year ended March 2024, up from S$ 2.16 billion a year ago.

Singapore’s symbol carrier also declared a final payout of S$ 0.38 every, higher than the S$ 0.28 a year ago.