Despite the challenges and fierce competitions from the budget as well as the Middle Eastern airlines, SIA has done exceptionally well. Profit for the year ending March 2015 is S$367.9 million up 2.34% from the same period last year. The profit may appear relatively small but nevertheless it's still a profit. SIA balance sheet is healthy with a net cash holding of $5.25 billion which is a huge sum by any standard.
SIA will be paying its staff at least 1.6 month bonus July this year as well as a SG50 ex gratia payment of $150 per staff. Another bonus will be paid in January 2016. In addition, SIA pays its staff a so called "thirteen" month salary at the end of each year.
SIA staff should be grateful it has a world class management which is prudent and wise. No wonder Singapore Airlines is ahead of world giants like Microsoft, 3M, Facebook, Goldman Sachs, Toyota Motor etc as one of the world's most admired companies (19th position to be precise for 2015).
Just look at our northern neighbour which had to shut down its national carrier after decades of losses. In the process of restructuring the airline it has to cut 6,000 jobs.
Qantas is in somewhat a similar situation. It shocked the aviation world when it announced a A$2.8 billion loss last year. It is cutting 5,000 jobs to remain afloat.
SIA is not only not retrenching its staff but recruiting aggressively. Just look at the cabin crew side whereby SIA is recruiting every two months ( last one was 31 May and next is 4 July).
We should thank SIA management as well as all the staff who has co-operated and work hard to weather the storm.