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SIA’s fortune is soaring, so why is SIAEC’s stalling?

Renald Yeo

Renald Yeo

Published Wed, Jun 7, 2023 · 05:50 AM
    • SIAEC's revenue has risen 40.6 per cent to S$796 million, but this is only about 80 per cent of pre-Covid figures.
    • SIAEC's revenue has risen 40.6 per cent to S$796 million, but this is only about 80 per cent of pre-Covid figures. PHOTO: SIAEC

    IT HAS been a bumper year for Singapore Airlines (SIA), with record earnings and sky-high bonuses for employees. But the ride has been more turbulent for its maintenance, repair and overhaul (MRO) arm, SIA Engineering Company (SIAEC).

    The national carrier is giving eligible employees bonuses of up to 8.15 months for FY2023, while staff at wholly owned subsidiary Scoot will be receiving up to 6.26 months of performance and ex-gratia bonuses.

    SIAEC, in contrast, has not chosen to broadcast its bonuses this year. Indeed, The Business Times (BT) understands that there has been some unhappiness among rank-and-file employees at SIAEC over their more modest payouts.

    Hock Lock SiewSIA EngineeringSingapore AirlinesAviation

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