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Singapore Airlines to pay staff 8 months’ bonus as profit soars to US$1.6 billion
- Eligible staff will be paid a profit-sharing bonus in recognition of their hard work and sacrifices during the pandemic
- The city state’s flag carrier reported net income of US$1.62 billion for the year ended March 31, after posting losses for the past three years
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Singapore Airlines will pay staff a bonus of around eight months’ salary after posting a record annual profit.
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Eligible staff will be paid a profit-sharing bonus equivalent to 6.65 months’ pay, and a maximum of 1.5 months’ salary of ex gratia bonus in recognition of their hard work and sacrifices during the pandemic, a spokesperson for the airline said. Senior management will not receive that additional ex gratia bonus.
“The bonus for Singapore Airlines’ employees is based on a long-standing annual profit-sharing bonus formula that has been agreed with our staff unions,” the spokesperson said.
The city state’s flag carrier on Tuesday reported net income of S$2.16 billion (US$1.62 billion) for the year ended March 31, after posting losses for the past three years. The carrier also said forward sales are healthy across all cabin classes, led by bookings to China, Japan and South Korea.
Singapore Airlines and its budget offshoot Scoot carried 26.5 million passengers in the year, six times higher than the 12 months through March 2022, with passenger capacity rising to 79 per cent of pre-Covid levels in March.
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