Employees of Singapore Airlines are getting a bonus equal to about seven and a half months of pay, The Business Times reported Thursday.
The incentive is part of a profit-sharing arrangement that delivered almost eight months of extra pay to employees in fiscal year 2024 and about six and a half months of extra pay in fiscal year 2023.
The airline told Channel News Asia that profit sharing is worked out according to a “longstanding formula” negotiated by the different employee unions.
The news came the same day Singapore Airlines released its full-year earnings for 2024-25, including record profits of $2.8 billion. The airline’s fiscal year ends on March 31 and starts on April 1.
Singapore Airlines’ gains were largely fueled by the merger of its former subsidiary Vistara with Air India, which netted the carrier a one-off non-cash accounting gain of $1.1 billion. The airline said demand for air travel and cargo remains strong, though passenger traffic growth lagged behind the fleet’s capacity expansion. Operating profits declined to $1.7 billion from $2.7 billion in the prior fiscal year.
The carrier employs about 18,000 staff members.
