Singapore Airlines (SIA) posted its highest profit in its history for the year, and because staff bonuses are proportional to the company’s financial performance, employees can expect a record bonus equal to eight months’ worth of their salary.
The city-state’s largest carrier released its balance sheet on May 15, reporting a net profit of $2.67 billion. According to an email from CEO Goh Choon seen by The Straits Times, the profit growth increases employee bonuses from 6.65 months’ salary last year to 7.94 months’ salary this year.
In addition, some employees also received an additional payment of 1.5 months’ salary last year for their work during the pandemic (the “Covid” bonus has been removed this year).
Singapore Airlines Group revenue rose 7.0% year-on-year, or $1.2 billion, to a record $19 billion. Despite a 41.2% decline in revenue from the group’s cargo sector, overall turnover increased by $2.3 billion (17.3%), driven by an increase in passenger revenue, which reached $15.7 billion.