Singapore Airlines Sets the Standard with an 8-Month Salary Bonus for Employees

Singapore Airlines is really stepping up their game when it comes to bonus payouts. According to a source who spoke with CNN on Friday, the airline will be giving its employees a bonus equivalent to almost eight months of salary. The source requested to remain anonymous as this information was not meant to be disclosed publicly.

Singapore Airlines did not respond to a request for comment.

On Wednesday, the company reported a record annual net profit of $1.98 billion in the 2023 to 2024 fiscal year.

The airline mentioned in its earnings statement that the demand for air travel stayed strong all year. This was mainly due to North Asia, including China, Hong Kong, Japan, and Taiwan, fully reopening their borders after the pandemic.

American Airlines flight attendants gathered outside O'Hare International Airport in Chicago, Illinois to protest for higher wages. Union officials stated that the flight attendants have not received a pay raise since 2019. The demonstration took place on May 9, 2024. (Photo by Scott Olson/Getty Images)

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The prestigious Skytrax World Airline Awards named the Singapore flag carrier as the world's best airline last year. This marked the fifth time in the 23-year history of the awards that the airline has achieved this top honor.

Goh Choon Phong, the CEO of the airline, credited his team for the win. He highlighted their relentless efforts and sacrifices to prepare SIA for the recovery in air travel. This dedication has enabled the airline to emerge stronger and more resilient from the challenges posed by the pandemic.

Emirates in Dubai is not the only airline that is rewarding its employees with a generous bonus. According to Reuters, the airline will be giving its staff a bonus equivalent to 20 weeks' salary. Although the state-owned airline did not provide any official comments, it was reported that they have also achieved record full-year profits.

Singapore Airlines mentioned in its earnings statement that the aviation sector might face challenges in the upcoming year. The company highlighted geopolitical tensions, macroeconomic uncertainties, inflationary pressures, and supply chain constraints as potential difficulties.

Anna Cooban contributed to this report.

Editor's P/S:

The news of Singapore Airlines' substantial bonus payout reflects the company's strong financial performance and its commitment to rewarding its employees for their hard work and dedication. The airline's record profits and recognition as the world's best airline attest to the efforts of its team in navigating the challenges of the pandemic and positioning the company for success.

The bonus announcement also highlights the contrast between the treatment of employees in different airlines. While Singapore Airlines is generously rewarding its staff, American Airlines flight attendants continue to advocate for higher wages and improved working conditions. This disparity underscores the importance of fair compensation and employee well-being in the aviation industry.