Singapore Airlines Awards Staff With Bonus Equivalent to Nearly Eight Months Salary

The airline recorded a nearly $2 billion profit during the fiscal year.

Up close with a Singapore Airlines A350 at Seattle-Tacoma. (Photo: AirlineGeeks | Katie Zer

[ Airline Careers ]May 15, 2024 4:59 pm ET

By Ryan Ewing

Singapore Airlines has announced that it will reward eligible staff with a bonus equivalent to nearly eight months of salary, following the airline’s record-breaking profits for the fiscal year 2024. According to a company memo viewed by The Straights Times, the bonus includes a profit-sharing component of 7.94 months in line with labor contracts. This decision comes after the airline posted a record profit of S$2.7 billion (USD $2 billion) for the fiscal year ended on March 31, 2024.

Last year, employees received a bonus of 6.65 months of pay, which included a 1.5-month increase for some workgroups following the COVID-19 pandemic. The airline has nearly 15,000 employees around the globe.

The carrier’s record profits for the fiscal year were driven by a strong recovery in air travel demand and the airline’s strategic initiatives. The group, which includes the budget airline Scoot, carried 36 million passengers, a nearly 40% increase from the previous year.

Singapore says its sales remain healthy across all cabin classes, with strong bookings to China, Japan, and South Korea along with Southeast Asian countries.

The airline’s employee bonus plan comes just days after Emirates announced a similar pay-out. Its staff will receive a bonus worth five months of salary in the coming weeks.

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Ryan Ewing

Ryan founded AirlineGeeks.com back in February 2013 and has amassed considerable experience in the aviation sector. His work has been featured in several publications and news outlets, including CNN, WJLA, CNET, and Business Insider. During his time in the industry, he's worked in roles pertaining to airport/airline operations while holding a B.S. in Air Transportation Management from Arizona State University along with an MBA. Ryan has experience in several facets of the industry from behind the yoke of a Cessna 172 to interviewing airline industry executives. Ryan works for AirlineGeeks' owner FLYING Media, spearheading coverage in the commercial aviation space.

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Author

Ryan Ewing

Ryan founded AirlineGeeks.com back in February 2013 and has amassed considerable experience in the aviation sector. His work has been featured in several publications and news outlets, including CNN, WJLA, CNET, and Business Insider. During his time in the industry, he's worked in roles pertaining to airport/airline operations while holding a B.S. in Air Transportation Management from Arizona State University along with an MBA. Ryan has experience in several facets of the industry from behind the yoke of a Cessna 172 to interviewing airline industry executives. Ryan works for AirlineGeeks' owner FLYING Media, spearheading coverage in the commercial aviation space.
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