Singapore Airlines Awards Staff with Eight-Month Salary Bonus Amid Record Profits
Singapore Airlines is setting a new standard in employee bonuses, rewarding its staff with nearly eight months’ salary following a year of record profits.
An insider, who requested anonymity due to the sensitive nature of the information, disclosed to CNN on Friday that the airline would be granting this substantial bonus. Singapore Airlines has yet to officially comment on the matter.
This announcement follows the company’s report of a record annual net profit of $1.98 billion for the 2023-2024 fiscal year. The airline attributed its success to a strong recovery in air travel demand, particularly in North Asia, where countries like China, Hong Kong, Japan, and Taiwan fully reopened their borders after the pandemic.
Last year, Singapore Airlines was honoured as the world’s best airline by the Skytrax World Airline Awards, marking the fifth time it has received this accolade in the awards’ 23-year history. CEO Goh Choon Phong credited the award to the dedicated efforts of the airline’s team, highlighting their sacrifices and preparation for the resurgence in air travel, which enabled the company to emerge from the pandemic in a stronger position.
Singapore Airlines is not alone in offering generous bonuses. Dubai’s Emirates, also reporting record profits, is set to pay its employees a bonus equivalent to 20 weeks’ salary, according to an internal email cited by Reuters. Emirates has not commented publicly on this report.
Despite these positive developments, Singapore Airlines cautioned about potential challenges ahead, citing geopolitical tensions, economic uncertainties, inflation, and supply chain issues as ongoing concerns for the aviation industry.
