Singapore Airlines, riding high on record earnings with its near vertical take off recovery trajectory, has nearly doubled CEO Goh Choon Phong's pay.
According to the airline's annual report released on June 28, Goh was given a total pay package of $6.73 million for FY2023 ended March, versus $3.59 million he received for FY2022.
Goh's base salary was $1.14 million, with bonuses and shares making up the bulk of the package.
Thanks to the recovery of air travel, SIA reported earnings of $2.16 billion for the year ended March 2023, versus a loss of $962 million in the preceding year, and a massive $4.3 billion incurred in FY2020, the depth of the pandemic.
"We would like to record our appreciation to all shareholders, especially our majority shareholder Temasek Holdings, for their trust during the pandemic and strong backing for our fundraising efforts," says chairman Peter Seah in his annual report message.
Shareholders will receive a final dividend of 28 cents, which will be on top of an interim dividend of 10 cents already paid.
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Year to date, SIA shares have gained around 40%.
