Singapore Airlines Staff Gets Huge Bonus
Singapore Airlines has reported record annual profits and is paying its employees a big bonus worth around eight months salary. The group, which includes the budget airline Scoot, reported an annual net income of $1.6 billion.
Eligible staff will be paid a profit-sharing bonus equivalent to 6.65 months’ pay, and a maximum of 1.5 months’ salary of ex-gratia bonus in recognition of their hard work and sacrifices during the pandemic, Bloomberg reports. Senior management won’t receive the bonus.
The city-state’s flag carrier on Tuesday reported net income of S$2.16 billion ($1.62 billion) for the year ended March 31, and said forward sales are healthy across all cabin classes, led by bookings to China, Japan and South Korea.
Singapore Airlines and its budget offshoot Scoot carried 26.5 million passengers in the year, six times higher than the 12 months through March 2022, with passenger capacity rising to 79% of pre-Covid levels in March.
In September 2020, pilots agreed to take pay cuts of up to 60% in a deal which saved about 400 jobs. Singapore Airlines reported losses totaling $2.75 billion over the 2020-2022 financial years as the industry was hit by COVID-19.
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What a difference between how this airline handled adversity and is now handling prosperity compared to US based airlines. Wow! No wonder they are one of the top 3 airlines