SINGAPORE: The chief executive officer of Singapore Airlines (SIA) Goh Choon Phong received an annual salary of S$7.01 million (US$5.47 million) for the latest financial year ended Mar 31, according to the national carrier’s annual report released on Wednesday (Jun 25).
This marked a 13.5 per cent drop from the S$8.11 million salary package that he took home in the previous year.
Mr Goh’s annual remuneration for FY2024/25 comprises a base pay of S$1.46 million, bonuses of S$3.12 million, as well as shares and benefits amounting to S$2.44 million.
SIA reported a record annual net profit of S$2.78 billion for the financial year, up from S$2.68 billion a year earlier. The airline attributed this to a one-off gain of about S$1.1 billion from the merger of Air India and Vistara.
Its operating profit fell 37 per cent from a year earlier to S$1.71 billion, as passenger yields – a proxy for airfares – dropped by 5.5 per cent due to stiff competition as airlines globally added capacity.
Nevertheless, SIA rewarded eligible employees with a profit-sharing bonus of 7.45 months.
This was slightly below the 7.94 months’ worth of profit-sharing bonus it issued in the previous year, the highest in the airline’s history.
