8 months salary bonus for Singapore Airlines staff

Singapore Airlines has announced substantial bonuses for its employees following a record-breaking fiscal year. With a reported net profit of $1.98 billion for 2023-2024, the airline plans to reward its staff with a bonus nearly equivalent to eight months’ salary. This decision comes amidst a strong recovery in air travel, driven by the reopening of borders in North Asia. Passenger revenue surged by 17.3% to $15.7 billion, contributing to an overall revenue increase of 7% to $19 billion.

Despite challenges such as a 40% decline in cargo sales, Singapore Airlines remains optimistic about future demand, particularly from North and Southeast Asia. CEO Goh Choon Phong attributed their success to the dedication of the team and strategic adjustments made during the pandemic. However, the airline acknowledges potential difficulties ahead, including geopolitical tensions and economic uncertainties.

Meanwhile, Emirates in Dubai also reported record profits and announced bonuses equivalent to 20 weeks’ salary for its employees, highlighting a positive trend in the airline industry despite looming challenges.