SIA CEO’s pay rises to S$9.7m even as net profit falls by hefty 57%

SINGAPORE: Singapore Airlines (SIA) chief executive officer Goh Choon Phong received close to $9.7 million in total remuneration for the 2025/26 financial year, even as the national carrier reported a sharp decline in annual net profit.

According to the airline group’s latest annual report, Mr Goh’s total remuneration amounted to $9.7 million under the company’s Declared Basis B reporting format. This figure includes a strategic share award granted in July 2025 in recognition of his performance during the previous financial year, FY2024/25.

Share-based awards formed the largest component of Mr Goh’s remuneration package, accounting for $4.75 million, or 49% of the total. Performance bonuses made up the second-largest portion at $3.34 million, representing 35%.

His annual base salary was $1.46 million, equivalent to 15% of the total remuneration, while benefits amounted to $144,210, or around 1%. As chief executive officer, Mr Goh did not receive any directors’ fees.

SIA also disclosed an alternative remuneration figure of $8.75 million under Declared Basis A. This reporting method excludes the July 2025 strategic share award.

The airline explained that both remuneration figures were provided because of a temporary increase resulting from changes to its executive compensation structure. It said the July 2025 strategic share award was the final grant linked to FY2024/25 performance, as the award scheme has since been phased out from FY2025/26 onwards.

The disclosure comes against the backdrop of a significant fall in the group’s bottom line. SIA reported a net profit of $1.18 billion for FY2025/26, a decline of 57.4% from the previous year.

The airline attributed the lower profit to the absence of the one-off non-cash accounting gain recorded in the previous financial year following the Air India-Vistara merger. It also cited the group’s share of Air India’s full-year losses as another factor weighing on earnings.

Despite the weaker net profit, SIA delivered a stronger operating performance during the year. Group revenue rose 5% year-on-year to $20.52 billion, while operating profit increased 38.9% to $2.37 billion.

Passenger traffic also continued to grow. The SIA Group carried 42.4 million passengers during FY2025/26, with its passenger load factor improving by 1.1 percentage points to 87.7%.