Singapore Airlines' CEO gets pay bump after record annual profit
Goh Choon Phong’s salary rose 21% to S$8.11 million last year
Singapore Airlines Ltd. Chief Executive Officer Goh Choon Phong was paid S$8.11 million ($6 million) last financial year, a 21 per cent increase from the previous period, as the airline benefited from a travel boom.
Goh, who has been on the carrier's board since 2010, had a base salary of S$1.44 million, up from S$1.1 million in 2022, according to the airline's annual report published Monday. Similar to in previous years, the majority of his pay comes in the form of bonuses and share awards.
Singapore Airlines posted a second consecutive record annual profit last year on sustained demand for air travel, fuller flights and a buoyant cargo business. It rewarded staff with bonus payouts worth almost eight months of their salaries.
The city-state's carrier delivered a record S$2.67 billion annual profit in the fiscal 2023-2024 year while revenue for the 12 months rose 7 per cent to S$19.01 billion.