Singapore Airlines will reward its staff with eight months of salary as bonus after posting record profits this year. This is a significant increase from the 6.65-month bonus awarded to employees last year, reported Business Insider.
A source with knowledge of the matter confirmed to CNN that this year, employees can expect to get nearly eight months of salary as bonus from Singapore Airlines. The source requested anonymity as the bonus has not been announced publicly.
Singapore Airlines posted a record annual net profit of $1.98 billion in the 2023 to 2024 fiscal year. In the fiscal year ending on March 31, 2024, the airline’s earnings surged by 24 percent to touch $2.7 billion.
“The demand for air travel remained buoyant” throughout the year boosted by a rebound in North Asia as China, Hong Kong, Japan and Taiwan fully reopened their borders after the pandemic,” the airline said in its earnings statement. Revenue increased 7% to a record $19 billion, while passenger turnover rose by 17.3%.
Along with its low-cost carrier, Scoot, Singapore Airlines served 36.4 million passengers in the last year.
Singapore Airlines is not the only airline to hand out a handsome bonus. Reuters had earlier reported that Dubai’s Emirates would give its staff 20 weeks of salary as bonus amount after posting a record full year profit.
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