Singapore Airlines to pay staff almost eight months' bonus
SINGAPORE Airlines Ltd. will reward employees with a profit-sharing bonus worth almost eight months after delivering full-year net income of S$2.78 billion (US$2.1 billion) that beat analyst estimates.
Employees will be paid about 7.45 months' bonus, lower than the 7.94 months received a year ago, Chief Executive Officer Goh Choon Phong said on Friday.
The smaller bonus payout comes as Singapore Air on Thursday warned that tariff and trade tensions on top of broader economic and geopolitical uncertainties could hurt demand for passenger and cargo flights.
The Singapore flag carrier's net income beat, with passenger yields declining slower than over the past three years, contrasting with its outlook.
However, the carrier posted muted results for its final quarter, a sign of uncertain times ahead. US President Donald Trump's trade policies have rattled markets and hurt consumer sentiment.
'The global airline industry faces a challenging operating environment,' the airline said in a statement. The growing challenges 'may impact consumer and business confidence,' it added. –BLOOMBERG
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