NEW DELHI: Singapore Airlines, which was named the ‘world’s best airline’ last year, has recently announced that its employees would be offered a bonus worth nearly eight months of salary, according to CNN.
The announcement comes after the airline declared a record annual net profit of $1.98 billion in the 2023 to 2024 fiscal year on Wednesday.
Singapore Airlines reported robust demand for air travel in its earnings statement, attributing the surge to the complete reopening of borders in North Asia, including China, Hong Kong, Japan, and Taiwan, following the pandemic.
The carrier, which is Singapore’s national airline, was recognized as the world’s best airline last year, marking its fifth win in the 23-year history of the awards.
Goh Choon Phong, Singapore Airlines’ CEO, credited the achievement to the unwavering dedication of his team, stating, “That has allowed us to emerge stronger and fitter from the pandemic.” He acknowledged the numerous sacrifices made by the staff to ensure the airline’s readiness for the recovery in air travel.
However, the coming year could be difficult for the sector, Singapore Airlines said in its earnings statement.
“Geopolitical tensions, macroeconomic uncertainties, inflationary pressures, and supply chain constraints pose challenges for the aviation industry,” it said.
Other airlines also recently have picked up the cue of providing employees with bonus.
Dubai’s Emirates said this week will pay its staff a bonus equivalent to 20 weeks’ salary, according to Reuters citing an internal email. The state-owned airline also posted record full year profit.
The announcement comes after the airline declared a record annual net profit of $1.98 billion in the 2023 to 2024 fiscal year on Wednesday.
Singapore Airlines reported robust demand for air travel in its earnings statement, attributing the surge to the complete reopening of borders in North Asia, including China, Hong Kong, Japan, and Taiwan, following the pandemic.
The carrier, which is Singapore’s national airline, was recognized as the world’s best airline last year, marking its fifth win in the 23-year history of the awards.
Goh Choon Phong, Singapore Airlines’ CEO, credited the achievement to the unwavering dedication of his team, stating, “That has allowed us to emerge stronger and fitter from the pandemic.” He acknowledged the numerous sacrifices made by the staff to ensure the airline’s readiness for the recovery in air travel.
However, the coming year could be difficult for the sector, Singapore Airlines said in its earnings statement.
“Geopolitical tensions, macroeconomic uncertainties, inflationary pressures, and supply chain constraints pose challenges for the aviation industry,” it said.
Other airlines also recently have picked up the cue of providing employees with bonus.
Dubai’s Emirates said this week will pay its staff a bonus equivalent to 20 weeks’ salary, according to Reuters citing an internal email. The state-owned airline also posted record full year profit.