Singapore Airlines intends to pay its employees a bonus worth about eight salaries, after reporting a record profit for the year | The bonus will be distributed as gratitude for the hard work and sacrifice they showed throughout the Corona epidemic
The national airline of Singapore, “Singapore Airlines” will give its employees a bonus worth eight salaries.
According to the report published in Calcalist, the airline intends to pay its employees a bonus worth about eight salaries, after reporting a record profit for the year.
The bonus will be distributed as gratitude for the hard work and sacrifice they showed throughout the corona epidemic, when the fat bonus will not be distributed to the management.
The employees entitled to this will receive a profit-based bonus corresponding to 6.65 months’ salary and another salary of up to 1.5 months.
The company’s spokesperson said that “the distribution of the bonus was made possible thanks to a long-standing profit sharing agreement agreed upon with the union. This gesture of goodwill is recognition of the commitment, hard work and sacrifice of our employees, who suffered salary cuts during the pandemic,” he said.
In September 2020, the pilots agreed to a pay cut of up to 60% in order to save 400 jobs.
Calcalist notes that the announcement comes after Singapore’s national airline reported on Tuesday a net profit of $1.62 billion for the fiscal year that ended on March 31, noting that demand for future flights was driven mainly by passengers from China, Japan and South Korea. This is the highest annual profit in the company’s 76 years of existence. For comparison, throughout 2020-2022 the company reported losses of 2.75 billion dollars.
Singapore Airlines also reported that in the period in question, 26.5 million passengers flew, a number 6 times higher than in the previous fiscal year. Also, in April the company reported that the flight carried 1.75 million passengers, an increase of 53% compared to the corresponding period last year.