Singapore Airlines CEO gets 88% pay hike following record profits

Singapore Airlines, which has recently been named as the World’s best airline is now giving 88% salary hike to its CEO.

According to the airline’s annual report released on Wednesday (28 Jun), SIA CEO, Mr Goh Choon Phong, saw his annual salary rise by 88% to S$6.73 million (US$4.98 million) from S$3.59 million the previous year.

According to Bloomberg, the company is paying staff a bonus of around eight months’ salary after posting a record annual profit.

The remuneration for Goh, who has been CEO since 2011, includes a base pay of S$1.14 million, bonuses of S$2.96 million, and shares and benefits amounting to S$2.63 million.

Propelled by a robust recovery in travel demand, SIA reported a net profit of S$2.16 billion for the year ended Mar 31, rebounding from a loss of S$962 million a year earlier.

The upbeat earnings results – a record in its 76-year history – also reversed three straight years of losses brought about by the pandemic.

Singapore Airlines: World’s Best Airline

Singapore Airlines has been named World’s Best Airline in the 2023 Skytrax World Airline Awards, the fifth time it has won this prestigious accolade.

Singapore Airlines took the top spot in four categories at this year’s Skytrax awards, including Best First Class Airline, Best First Class Comfort Amenities, and Best Airline in Asia.