Following a record annual profit, Singapore Airlines Ltd. will provide its staff with a bonus equivalent to approximately eight months salary.According to an airline spokesperson, eligible employees will receive a profit-sharing bonus equal to 6.65 months pay, along with a maximum ex-gratia bonus of 1.5 months salary. This bonus is in acknowledgment of their dedication and sacrifices during the pandemic. However, senior management will not receive the additional ex-gratia bonus.The airline spokesperson explained that the bonus awarded to Singapore Airlines employees adheres to a well-established annual profit-sharing bonus formula that has been mutually agreed upon with the staff unions.image: yahooOn Tuesday, the national airline of Singapore announced a net income of S$2.16 billion ($1.62 billion) for the fiscal year ending on March 31. They also highlighted strong forward sales across all cabin classes, particularly driven by bookings to China, Japan, and South Korea. As a result, Singapore Airlines shares experienced a 1.2% increase on Thursday.During the year, Singapore Airlines and its budget subsidiary Scoot transported 26.5 million passengers, marking a significant increase compared to the previous 12 months through March 2022. In March, passenger capacity reached 79% of pre-Covid levels. Additionally, Singapore Airlines reported flying 1.75 million passengers in April, which reflects a 53% growth compared to the same month in the previous year. In contrast, Cathay Pacific Airways Ltd., a competitor based in Hong Kong, still has a considerable distance to cover as its revenue from last year remains at around half of pre-pandemic levels.
