Singapore Airlines To Roll Out 8 Months' Salary As Bonus

Singapore Airlines is set to reward its employees with a bonus equivalent to eight months of salary after achieving record profits this year, as reported by Business Insider. This marks a notable increase from the 6.65-month bonus awarded last year.

According to a source familiar with the matter, who spoke to CNN on condition of anonymity due to the unannounced nature of the bonus, employees can expect nearly eight months of salary as their bonus this year.

Singapore Airlines achieved a record annual net profit of $1.98 billion for the fiscal year 2023-2024. The airline's earnings saw a 24 per cent increase, reaching $2.7 billion for the fiscal year ending 31 March 2024.

"The demand for air travel remained buoyant throughout the year, driven by a rebound in North Asia as China, Hong Kong, Japan, and Taiwan fully reopened their borders post-pandemic," the airline stated in its earnings report. Revenue hit a record $19 billion, up 7 per cent, and passenger turnover increased by 17.3 per cent.

Together with its low-cost subsidiary, Scoot, Singapore Airlines transported 36.4 million passengers over the past year.

Singapore Airlines is not alone in offering substantial bonuses. Reuters previously reported that Dubai's Emirates would grant its staff a bonus amounting to 20 weeks of salary following a record full-year profit.