Singapore Airlines to Reward Employees with 8-Month Bonus Following Record Profit
Singapore Airlines has announced a generous reward for its employees following a record-breaking year. The airline will grant a bonus equivalent to eight months’ salary after posting a record net profit of $1.98 billion for the 2023-2024 fiscal year. This marks an increase from last year’s bonus, which was 6.65 months’ salary.
The airline’s total earnings soared by 24%, reaching $2.7 billion by March 31, 2024, with revenue climbing to a new high of $19 billion – a 7% increase year-on-year. Passenger numbers also saw significant growth, rising by 17.3%. Together with its budget carrier, Scoot, Singapore Airlines carried a total of 36.4 million passengers throughout the year.
The airline attributes this success to sustained strong demand for air travel, particularly following the full reopening of borders in North Asia, including China, Hong Kong, Japan, and Taiwan, after the pandemic.
In a broader trend, Singapore Airlines isn’t the only major carrier rewarding its staff. Emirates, another leading airline, recently announced a bonus equivalent to 20 weeks’ salary after achieving its own record profits.
Singapore Airlines’ move underscores how airlines worldwide are benefiting from the global recovery in air travel, and how they’re sharing these successes with their employees.
(Images: Singapore Airlines)
