Singapore Airlines CEO's pay soars to $9.7m on record $20.5b revenue

Goh Choon Phong, CEO of Singapore Airlines (SIA), received a pay package of nearly $9.7 million for the financial year amid the carrier's record revenue of $20.5 billion.

The package comprised a base salary of nearly $1.5 million, in addition to shares and bonuses, according to SIA's annual report for FY2025/26.

Goh's package for the latest financial year, which ended on March 31, is significantly higher than that of the previous year where he received $7 million.

Based on the report, other key management personnel, including chief commercial officer Lee Lik Hsin and chief operations officer Tan Kai Ping, received packages between $3.75 and $4 million each.

CEO of budget airline Scoot, Leslie Thng, received a package between $3 and $3.25 million.

Non-executive directors received between $214,000 and $824,610, based on the report, which said that compensation packaged were reviewed against market peers.

Additionally, the airline said that the packages are "appropriate and not excessive, given the efforts and dedication of the senior management in managing the airline in a post-Covid operating environment".

$20.5b revenue amid global uncertainty

SIA recorded strong earnings for the financial year, with record revenues of $20.5 billion according to a report released on May 14.

The airline also posted operating profits of $2.38 billion, which came in 39 per cent higher than that of the previous financial year owing to "healthy demand for air travel, higher yields, and lower full year net fuel cost".

During the financial year, SIA and Scoot carried a record 42.4 million passengers, up 7.7 per cent year-on-year as the global demand for air travel remained robust.

While SIA achieved strong results, it warned that heightened geopolitical tensions, including the conflict in the Middle East, will continue to be a "major headwind for the airline industry".

Jet fuel prices have more than doubled since the conflict began, adding significant cost pressure, and will weigh on operating costs as air fare increases do not fully offset the rise in the price of jet fuel.

"The group's well-diversified global passenger and cargo network, anchored by the strength of Singapore as a strategic hub, and its dual-brand portfolio of SIA and Scoot, provide the flexibility to adjust schedules and capacity where necessary, and pursue opportunities as they arise," said the carrier. 

It added that it manages cost volatility through its established risk management framework that includes fuel hedging.

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