All Singapore Airlines staff will receive eight months’ worth of salary as bonus after the Singapore Airlines Group reported a record profit of SG$2.7 Billion ($1.99 Billion) for the fiscal year ending March 31, 2024.
A memo viewed by indicated that staff, including pilots, will receive 7.94 months profit-sharing bonus.
In 2023, the group¾«¶«Ó°Òµ staff also received a bonus worth 6.65 months’ salary when SIA Group posted a record SG$2.1 Billion net profit ($1.5 Billion)
The financial year 2023/2024 has delivered the highest full year operating and net profits in the group¾«¶«Ó°Òµ history. The group credits robust travel demand for air travel which resulted in record passenger revenue.
According to the group, demand for air travel was boosted by a rebound in North Asia as China, Hong Kong, Japan and Taiwan fully reopened their borders.
Altogether, Singapore Airlines and Scoot carried a combined 36.4 million passengers, up 37.6% compared to the previous year.
The group reported that, although cargo loads increased 1.7% due to strong e-commerce demand, yields were 42.2% lower than the previous year – itself nearly 30% above pre-pandemic levels.
As of March 31, 2024, the group¾«¶«Ó°Òµ operating fleet consisted of 200 aircraft with an average age of seven years and three months. In April 2024, the group added one Airbus A350-900 and two Embraer E 190-E2 aircraft to its fleet.
The group foresees that demand for travel will remain healthy in the first quarter of FY 2024/2025, due to strong bookings to the North Asia and South East Asian region.
