Singapore Airlines Rewards Staff with Record Bonus After Historic Profits

Singapore Airlines employees are celebrating a major reward this year, as the company announced bonuses equal to eight months of their salary.

This marks a significant increase from last year’s bonus of 6.65 months' pay, reflecting the airline's record-breaking success.

For the 2023-2024 fiscal year, Singapore Airlines reported a net profit of $1.98 billion, the highest in its history.

Total earnings surged by 24%, reaching $2.7 billion by March 31, 2024.

Revenue also climbed to a record $19 billion, up 7%, while the airline saw passenger numbers grow by 17.3%.

Together with its budget carrier, Scoot, the airline carried an impressive 36.4 million passengers over the year.

The company attributes its strong performance to a sustained demand for air travel, particularly as North Asian destinations like China, Hong Kong, Japan, and Taiwan fully reopened their borders after the pandemic.

Singapore Airlines isn’t alone in rewarding its employees for a stellar year.

Emirates, another major airline, recently handed out bonuses equal to 20 weeks of salary after also achieving record profits.

The generous bonuses highlight the resilience of the aviation industry as it rebounds from pandemic-related challenges, with employees sharing in the success of their companies’ achievements.