Singapore Airlines (SIA) is going to reward its employees with a profit-sharing bonus equivalent to 7.45 months’ pay after reporting a net profit of S$2.78 billion (around RM9.7 billion) for the financial year ended March 31 – higher than analysts' expectations of only S$2.4 billion.
In a statement that pleased employees, Singapore Airlines Ltd. announced a generous bonus of 7.45 months' salary to its staff.
This is in recognition of their hard work throughout the year, although the bonus this time is slightly lower than last year.
Singapore's national airline managed to record a net profit of S$2.78 billion (around RM9.7 billion) for the financial year ended March 31 – higher than analysts' expectations of only S$2.4 billion.
Overall revenue also rose 2.8% to a new record of S$19.5 billion, beating market expectations.
Acknowledging the Bonus as "Not High", CEO Goh Choon Phong said that although this year's bonus decreased slightly, it still reflected the company's commitment in recognising the hard work and dedication of its employees.
"We thank all Singapore Airlines employees who have shown extraordinary spirit," he said in a statement.
However, despite this good news, the company also warned of the challenges ahead.
Singapore Airlines expects global trade tensions, political uncertainty, and international policy changes to affect demand for passenger and cargo flights. SIA also highlighted concerns about the impact of U.S. trade policies on markets and consumer sentiment.
“The global airline industry faces a challenging operating environment,” the company said in a statement. It further noted that these challenges “may impact consumer and business confidence.”
Singapore Airlines has a proven record of profit sharing as this reward could also be compared with the bonus of 6.65 months that most employees received in the year 2023, with some getting an extra 1.5 months for their hard work during the Covid-19 pandemic.
