SINGAPORE: The Singapore Airlines (SIA) released today (28 June) disclosed that chief executive Goh Choon Phong received an annual salary of S$6.73 million for the fiscal year 2022/23.
The eye-watering pay package, which represents a staggering 88% surge compared to his salary of S$3.59 million in the previous year, consists of a base pay of S$1.14 million, bonuses amounting to S$2.96 million, as well as shares and benefits valued at S$2.63 million.
Mr Goh has been SIA CEO for more than a decade. His latest annual remuneration comes as SIA set a new record with a net profit of S$2.16 billion in the last financial year, as it overcame the slump brought on by the COVID-19 pandemic.
The national carrier’s impressive financial performance can be attributed to the robust recovery in travel demand, leading to a significant rebound from the previous year’s loss of S$962 million.
These earnings results not only mark a turning point for the airline but also represent the highest profit in its 76-year history, signifying a reversal from three consecutive years of losses caused by the COVID-19 pandemic.
Earlier, SIA announced that eligible employees would receive approximately eight months of bonuses, comprising 6.65 months of bonuses and 1.5 months of compassionate bonuses, as a mark of appreciation for its employees’ commitment, efforts, and sacrifices.
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