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SIA staff rewarded with nearly 8 months of bonus pay as airline posts record S$2.7 billion profit for FY2024

The annual profit-sharing compensation is based on a long-standing formula that has been agreed with staff unions

 Tay Peck Gek
Published Wed, May 15, 2024 · 08:40 PM
    • Last year, SIA’s employees were handed a profit-sharing bonus of 6.65 months and a maximum total of 1.5 months of ex-gratia bonus in recognition of their hard work and sacrifices during the pandemic.
    • Last year, SIA’s employees were handed a profit-sharing bonus of 6.65 months and a maximum total of 1.5 months of ex-gratia bonus in recognition of their hard work and sacrifices during the pandemic. PHOTO: ST FILE

    SINGAPORE Airlines (SIA) is said to be rewarding eligible employees with a profit-sharing bonus of 7.94 months for FY2024, following the group’s record earnings, The Business Times has learnt.

    This is higher than FY2023’s 6.65 months, which did not include ex-gratia bonus to reward staff for their hard work during the pandemic.

    The annual profit-sharing compensation is based on a long-standing formula that has been agreed with staff unions, a spokesperson from the airline told BT last year.

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