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Accordingly, SIA has rewarded staff with huge bonuses during the past two years (SIA posts record net profit for FY2024; staff to get 8 months’ bonus, May 15).
However, one wonders if part of these bonuses should go back into rebuilding the national reserves.
During the Covid-19 pandemic, Singapore drew down around $40 billion of its reserves to fund various support schemes.
SIA, among others, benefited greatly from these. Most would agree that it is essential to use public monies to retain the national carrier, considering its strategic importance and the priority to save lives and livelihoods at that time.
Now that it is making record profits, should it return some of these to the reserves?
A suggestion would be to benchmark bonuses to the civil service, add a premium for the staff’s hard work, and return the rest to the nation’s coffers.
The Government has previously committed to rebuilding the reserves that were drawn down during the pandemic. Perhaps getting companies which are doing well now to return taxpayers’ monies they received during the pandemic is one way.
Li Wei Jun
Companies that received aid during pandemic could help rebuild reserves
I would like to congratulate Singapore Airlines for its record-breaking profits in the past year. It is a testament to its pursuit of excellence in service quality that makes Singaporeans like me proud when we fly with SIA.Accordingly, SIA has rewarded staff with huge bonuses during the past two years (SIA posts record net profit for FY2024; staff to get 8 months’ bonus, May 15).
However, one wonders if part of these bonuses should go back into rebuilding the national reserves.
During the Covid-19 pandemic, Singapore drew down around $40 billion of its reserves to fund various support schemes.
SIA, among others, benefited greatly from these. Most would agree that it is essential to use public monies to retain the national carrier, considering its strategic importance and the priority to save lives and livelihoods at that time.
Now that it is making record profits, should it return some of these to the reserves?
A suggestion would be to benchmark bonuses to the civil service, add a premium for the staff’s hard work, and return the rest to the nation’s coffers.
The Government has previously committed to rebuilding the reserves that were drawn down during the pandemic. Perhaps getting companies which are doing well now to return taxpayers’ monies they received during the pandemic is one way.
Li Wei Jun
