Singapore Airlines CEO’s latest annual pay drops 14% to S$7 million despite record performance

Singapore Airlines (SIA) paid its chief executive Goh Choon Phong S$7 million in remuneration for the latest financial year ended March 31, the carrier disclosed in its annual report on Wednesday (Jun 25).

This marks a 13.5 per cent decrease from the S$8.1 million package he received in FY2024.

Goh’s latest remuneration consists of a S$1.5 million salary and S$3.1 million in bonuses – both an increase from FY2024’s S$1.4 million salary and S$2.2 million in bonuses.

However, the value of the shares he received was lower at S$2.3 million in FY2025, down from S$4.3 million in the year-ago period. The latest package also includes S$145,495 in benefits, such as transport allowances and travel benefits.

SIA had previously announced a profit-sharing bonus of 7.45 months for eligible employees in FY2025, marginally lower than the year-ago period, but higher than the 6.65 months for FY2023.

The carrier delivered positive results despite geopolitical tensions, supply chain constraints and inflation, its chairman Peter Seah noted in a letter to shareholders.

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SIA posted a 3.9 per cent rise in its net profit to S$2.8 billion, on the back of S$19.6 billion in revenue for the year. Seah noted that SIA and Scoot carried 39.4 million passengers, their highest ever.

The company will continue to “strengthen synergies between both airlines, optimising fleet and network planning, enhancing cost efficiency, and delivering greater customer value”, said Seah.

SIA is also supporting Air India’s ongoing transformation with partner Tata Sons. The airline has a 25.1 per cent stake in the enlarged Air India Group, making it “the only non-Indian airline with direct participation in one of the world’s fastest-growing aviation markets”, the chairman said. He expects SIA to “navigate uncertainties from a position of strength and seize new opportunities”.

The counter ended Wednesday at S$6.87, up 0.3 per cent.