People commend airline who are paying staff a bonus 'worth eight months salary' after record $1.98 billion profit
An airline is set to issue staff with a bonus worth up to eight months' salary after making bumper profits.
Singapore Airlines made a staggering $1.98 billion in the 2023-2024 year, an increase of 24 percent on the previous year.
It has now been revealed that the airline has plans to issue bonuses to its staff which are worth eight months' salary, an insider told CNN.
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The insider informed the outlet that they did not wish to be named as the plan to distribute bonuses had not been made public.
Air travel saw difficult years as the Covid-19 pandemic saw demand for international travel collapse.
However now that restrictions have been lifted many airlines are reporting enormous profits.
In a statement, Singapore Airlines said that 'the demand for air travel remained buoyant' following the lifting of restrictions.
Nonetheless, the airline has also said that it is still preparing for what could be a difficult year ahead.
It clarified that this is due to a number of factors, clarifying it expects a difficult year due to “geopolitical tensions, macroeconomic uncertainties, inflationary pressures, and supply chain constraints pose challenges for the aviation industry.”
For the moment though, the company is set to issue a bonus worth eight months' salary.
Calculating an exact salary for staff such as cabin crew can be complex as according to the company's website they receive base pay plus extra based on their flights.
But of course, workers also include ground staff as well as those who work on board the flights.
The CEO of Singapore Airlines Goh Choon Phong thanked his team for the success, praising the “many sacrifices to ensure that SIA was ready for the recovery in air travel. That has allowed us to emerge stronger and fitter from the pandemic.”
Singapore is not the only airline which has returned enormous profits over the last 12 months.
UAE-based airline Emirates reported profits of $5.1 billion, and will also be issuing bonuses to its employees which will reportedly be worth around eight week's salary.
Many people heaped praise on Singapore Airline for sharing the fruits of a good year with its employees as well as its shareholders and executives.
One wrote: "That is how to reward your staff."
A second posted: "This how you make a mf stay at one job for 30 years. American CEOs need to take notes."
A third joked: "So not pizza and team bonding activities?"
Topics: News, World News, Travel, Business, Money
Kit Roberts