Eligible SIA staff to get 8 months' bonus following record profits

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Eligible SIA staff to get 8 months' bonus following record profits

CNA2023-05-18

SINGAPORE: Eligible employees at Singapore Airlines (SIA) could receive around eight months' bonus, following the group’s record earnings, a spokesperson told CNA on Thursday (May 18). This bumper ...

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The earnings also saw the company rebounding from a S$962 million net loss the previous year.\nStrong demand for air travel drove revenue, operating profit and passenger load factor, said SIA. \nMAXIMUM TOTAL OF 1.5 MONTHS EX-GRATIA BONUS\nSIA will award 0.5 months of ex-gratia bonus for each of the last three financial years, or a maximum total of 1.5 months, to eligible employees.\n“Senior management will not receive this additional ex-gratia bonus,” the spokesperson said. \nAn ex-gratia payment refers to payment that is given as a favour rather than due to legal requirements. \nThis payout is meant to recognise the “dedication, hard work and sacrifices, including pay cuts during the pandemic” of SIA’s employees, as well as the success of the company’s three-year transformation programme that has enhanced its competitiveness and strengthened its foundations for the future. \nThe group now has around 24,000 employees on its payroll.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}