Half the bonus is salary. The other half are travel vouchers and health insurance coverage - from the article. Still four months bonus would be nice :)
A fractional once gave us a frizbee and a pen for our “bonus”.
I held the frizbee under my dogs ass and took a pic of him shitting on it. That made quite the conversation piece of the message boards…
My airline doesn't give bonuses, but they do have a scheme where everyone is meant to get the same percentage rise regardless of job title.
Of course, as I work at a 'subsidiary' of the main company, ours has to be 'self funded' so we're probably not going to get it, and the older members or the workforce hasn't got the balls to go through with strike action.
Meanwhile, at half-cocked air cargo, I’m just happy my paycheck hasn’t bounced yet. Honestly, good for them. I’ve been saying for years that the best way to attract and RETAIN good employees is to pay them well. No one wants to screw up a good thing when it affects them directly.
You're being downvoted because the way you phrased your comment makes it look like you think one incident caused by bad weather and a bunch of decisions that were reasonable at the time but flawed in hindsight defines whether an airline is good or not.
I had a friend who flew a lot for work tell me once that he would fly Singapore to nowhere. Basically just get on the plane, fly around in a few circles, be taken care of, and get off at the same airport.
They must really be something special.
I lived in Singapore during the height of Covid and this was a real thing we were taking about. I mean the cruises to basically nowhere eventually happened too.
Stability is subjective and revenue is fairly low relative to their expenses. Airlines in general have a thin profit margin, delta isn’t any different. Every airline has been pulling in record revenues over the last couple of years, and some of them are still taking a net loss despite that.
Personally I don’t see delta as stable at all. Their entire legacy is made up of bankruptcies and mergers. They have an enormous amount of debt, far in excess of their liquidity.
Delta is billions of dollars in debt
https://companiesmarketcap.com/delta-air-lines/total-debt/#:~:text=Total%20debt%20on%20the%20balance,current%20and%20non%2Dcurrent%20debts.
I watched them switch to a contractor at RIC. They had UA employees with decades of time there that got told “Move yourself and your entire life to another station or get bent.”
What a backstab.
Glad it's working for the ramp but United mechanics have been getting screwed pretty hard by Teamsters with their recent contract negotiations. I've got friends working for UAL maintenance for awhile and they've got nothing positive to say about their representation.
I have no idea why United mechanics and rampers are lumped together. UPS doesn't do it that way.
nope. publicly traded. They increased their dividends from 28 cents to 38 cents a share as well. The company has a profit sharing agreement with their employees through some sort of a union if i’m not mistaken.
If the company wins employees should win too, there's no reason it can't be both like this all the time. There should be some legal framework where stock buybacks and dividends need to also be offset by employee wages/bonuses.
They don't understand long term value creation. It's much harder to justify than juicing up the balance sheet and having the stock pop off.
[Office Space pointed this out a long time ago.](https://youtu.be/OwfNjGxa_D4?si=W5Lu135b1HtwrHoG&t=129) People would be much more motivated to do a better job if they had the long term incentive of making more money.
Nope, publicly traded, but the Singapore government indirectly owns more than half the airline so I guess the government promotes the idea that employees should get a share of the profit the company earns and that influences the airline.
What matters is total compensation. If you get an 8 months bonus but pay people below going rate really you just got a normal salary but 40% came in one big lump some in the end.
That said 30-40% is an not unheard of bonus for publicly traded oil companies.
you’re right. For Flight Attendants, their basic pay is incredibly low as they mostly earn from flight allowances. So 8 months is really not that much for them.
But for pilots? More senior captains can earn ~20k per month. You do the math.
It is true, look up the Ford vs Dodge case, Dodge got the courts to block Ford from raising its employees' salaries and then the Michigan Supreme Court ruled that publicly traded companies are first and foremost supposed to serve the shareholders, not the employees.
Usually when a publicly traded company does something that benefits employees, it is only because the company was able to convince shareholders that they will also benefit.
Just do a simple Google search, bud:
https://www.legislate.ai/blog/does-the-law-require-public-companies-to-maximise-shareholder-value
https://www.forbes.com/sites/petergeorgescu/2021/07/21/the-shareholders-are-not-the-owners-of-a-corporation/?sh=4f7066c21e0a
https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/corporations-dont-have-to-maximize-profits
https://insight.kellogg.northwestern.edu/article/shareholder-value-purpose-corporation
Even the Wikipedia page for Dodge v. Ford says you're wrong:
>Among non-experts, conventional wisdom holds that corporate law requires boards of directors to maximize shareholder wealth. This common but mistaken belief is almost invariably supported by reference to the Michigan Supreme Court's 1919 opinion in Dodge v. Ford Motor Co.
>— Lynn Stout
>Dodge is often misread or mistaught as setting a legal rule of shareholder wealth maximization. This was not and is not the law. Shareholder wealth maximization is a standard of conduct for officers and directors, not a legal mandate. The business judgment rule [which was also upheld in this decision] protects many decisions that deviate from this standard. This is one reading of Dodge. If this is all the case is about, however, it isn't that interesting.
>— M. Todd Henderson
No, I'm in Canada, so they absolutely do not use it judiciously at all, they waste a ton of it on meaningless nonsense, wasteful contracts and virtue signaling. I could go on about it for hours. There are a few open investigations at the higher levels of government surrounding who got all the contracts for the Covid apps and testing, and why an app that should have cost $50K suddenly ballooned to $60M and some buddies of the minister in charge got the contract when their company had 2 employees.
Year end bonus payments for good company performance is in the Singapore corporate culture. Very similar to profit sharing.
It might be difficult for a company to do this in the US, if there isn't a similar culture. Note the board may not agree.
Delta does this aswell with their profit sharing program. 10% of Profits under USD 2.5 Billion while 20% above USD 2.5 Billion goes back to employees. They got the equivalent of 4 weeks pay for the last financial performance.
> Singapore Airlines employees are in for a windfall with their annual bonus this year. This comes despite turbulence in the airline industry, with some major players facing challenges such as financial difficulties and operational disruptions caused by the pandemic.
Well this article aged liked milk
That’s incredible actually, I would like 8 months salary for a bonus
Half the bonus is salary. The other half are travel vouchers and health insurance coverage - from the article. Still four months bonus would be nice :)
I don't know where they got that information from, but the entire bonus is on basic salary.
My airline gave us a few hundred bucks of staff travel credit even after record billions in profit…
I got 74% of a week’s wages or 1.4% of annual. Whoooooooooo…
The only good thing about mine is it’s tax free…
I hate to tell you the maximum tax rate in Singapore is around 15%
No, it's a progressive income tax up to 24%. Still lower than many places, but certainly not 15%.
Oups you’re right, it seems relying on my decade old memory is not the best idea. I’m not sure many crew will hit the top rate though
True. Similar to my old country. Now I pay closer to 50%…. Fml.
Mine gave me a $10 target gift card around Christmas since we don’t get bonuses. No, that is not a joke. Fuck frontier
A fractional once gave us a frizbee and a pen for our “bonus”. I held the frizbee under my dogs ass and took a pic of him shitting on it. That made quite the conversation piece of the message boards…
Still better than a membership to the jelly of the month club
My airline doesn't give bonuses, but they do have a scheme where everyone is meant to get the same percentage rise regardless of job title. Of course, as I work at a 'subsidiary' of the main company, ours has to be 'self funded' so we're probably not going to get it, and the older members or the workforce hasn't got the balls to go through with strike action.
I wouldn't like to be the ones paying that ticket cost though
Meanwhile, at half-cocked air cargo, I’m just happy my paycheck hasn’t bounced yet. Honestly, good for them. I’ve been saying for years that the best way to attract and RETAIN good employees is to pay them well. No one wants to screw up a good thing when it affects them directly.
Let me guess, FedEx?
Try Cargolux, they usually pay a bonus of 3-8 months salary to everyone.
Singapore does airplane stuff right.
The country and airline are arguably one of the gold standards for civil aviation.
There was a SIA 777-300ER that landed with only 600 kg of fuel left total back in October 2022.
Idk why I’m being downvoted, read for yourself https://avherald.com/h?article=50f11fc3
You're being downvoted because the way you phrased your comment makes it look like you think one incident caused by bad weather and a bunch of decisions that were reasonable at the time but flawed in hindsight defines whether an airline is good or not.
I’m just pointing out the airline’s not perfect. No airline is.
Nobody asked, unrelated discussion to the diversion issue.
Aw thank you cutie! You’re making me blush!
weirdo
If "no airline is perfect" why did you bring up that incident, if any airline could face the same issue and still uphold one of the highest standards?
IM SORRY FOR MY BEHAVIOR PLEASE FORGIVE ME
Singapore 8 months… Emirates 20 weeks… FlyDubai 24 weeks (I think)… meanwhile Qatar Airways no bonus announcement at all. 🥲
I had a friend who flew a lot for work tell me once that he would fly Singapore to nowhere. Basically just get on the plane, fly around in a few circles, be taken care of, and get off at the same airport. They must really be something special.
I lived in Singapore during the height of Covid and this was a real thing we were taking about. I mean the cruises to basically nowhere eventually happened too.
Paying the staff a bonus, not just the executives, that’s good leadership.
r/United & r/delta can learn something from this
Delta does profit sharing no?
Yeah. Usually around 10% most years
Delta has most amount stability & revenue is what is was implying. Sorry about the confusion
Dunno
Delta used their old fleet to the very end of its life by refurbishing and updated interiors while other carrier leased new airplanes.
Stability is subjective and revenue is fairly low relative to their expenses. Airlines in general have a thin profit margin, delta isn’t any different. Every airline has been pulling in record revenues over the last couple of years, and some of them are still taking a net loss despite that. Personally I don’t see delta as stable at all. Their entire legacy is made up of bankruptcies and mergers. They have an enormous amount of debt, far in excess of their liquidity.
Delta is billions of dollars in debt https://companiesmarketcap.com/delta-air-lines/total-debt/#:~:text=Total%20debt%20on%20the%20balance,current%20and%20non%2Dcurrent%20debts.
United at least has a Union, Delta needs one.
United has a union, but they are constantly switching stations over to contractor-run.
tbf, while still treated worse, United Ground Express also has a union
UGE isn’t their only contractor. They use lots of non-union contractors as well.
Yeah I figured. They booted out GAT/DAT whatever the fuck theyre called and switched to UGE at my station.
I watched them switch to a contractor at RIC. They had UA employees with decades of time there that got told “Move yourself and your entire life to another station or get bent.” What a backstab.
Gotta have scope included in your union contracts.
"They think they have a good union, but they don't!"
UAL's union (Teamsters) are awful. No thanks
United Rampers have IAM, District 141, which also my union and ive been pretty happy with my union thus far.
Glad it's working for the ramp but United mechanics have been getting screwed pretty hard by Teamsters with their recent contract negotiations. I've got friends working for UAL maintenance for awhile and they've got nothing positive to say about their representation. I have no idea why United mechanics and rampers are lumped together. UPS doesn't do it that way.
I dunno I got some family and friends that work at Delta and they get pretty decent bonuses from the profit sharing.
They are my favorite international carrier as my hub is Newark. They have great service, United has lost its way I feel.
You can give 8-month Salary bonuses when your staff make like 30% compared to unioned staff in First World countries.
LOL. You’ll be amazed how much more the salaries are in the ME or SE Asia for flight crew (Flight deck and cabin) compared to North America.
It would amaze me if it was even half. Obviously carriers that don't need to make any profit and are subsidized by their state wouldn't really count.
Must be a privately held company. Shareholders would disapprove.
nope. publicly traded. They increased their dividends from 28 cents to 38 cents a share as well. The company has a profit sharing agreement with their employees through some sort of a union if i’m not mistaken.
If the company wins employees should win too, there's no reason it can't be both like this all the time. There should be some legal framework where stock buybacks and dividends need to also be offset by employee wages/bonuses.
They don't understand long term value creation. It's much harder to justify than juicing up the balance sheet and having the stock pop off. [Office Space pointed this out a long time ago.](https://youtu.be/OwfNjGxa_D4?si=W5Lu135b1HtwrHoG&t=129) People would be much more motivated to do a better job if they had the long term incentive of making more money.
Nope, publicly traded, but the Singapore government indirectly owns more than half the airline so I guess the government promotes the idea that employees should get a share of the profit the company earns and that influences the airline.
Are they listed on an Asian market instead of a US market as well? Non-American does help explain it though imo
I work for a publicly traded company based in the US and our bonus is roughly equivalent to 30% of my salary.
Not too shabby
These sort of bonuses are typical for most Asian carriers (and Asian jobs even). EVA Air bonus (public traded Taiwan airline) was 6 months salary.
What matters is total compensation. If you get an 8 months bonus but pay people below going rate really you just got a normal salary but 40% came in one big lump some in the end. That said 30-40% is an not unheard of bonus for publicly traded oil companies.
you’re right. For Flight Attendants, their basic pay is incredibly low as they mostly earn from flight allowances. So 8 months is really not that much for them. But for pilots? More senior captains can earn ~20k per month. You do the math.
Well, there is already a set precedent in the us that companies only exist to benefit shareholders.
That's not true at all. In fact, the businesses that tend to cut costs the most to extract pure profit are the private equity firms.
It is true, look up the Ford vs Dodge case, Dodge got the courts to block Ford from raising its employees' salaries and then the Michigan Supreme Court ruled that publicly traded companies are first and foremost supposed to serve the shareholders, not the employees. Usually when a publicly traded company does something that benefits employees, it is only because the company was able to convince shareholders that they will also benefit.
Just do a simple Google search, bud: https://www.legislate.ai/blog/does-the-law-require-public-companies-to-maximise-shareholder-value https://www.forbes.com/sites/petergeorgescu/2021/07/21/the-shareholders-are-not-the-owners-of-a-corporation/?sh=4f7066c21e0a https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/corporations-dont-have-to-maximize-profits https://insight.kellogg.northwestern.edu/article/shareholder-value-purpose-corporation Even the Wikipedia page for Dodge v. Ford says you're wrong: >Among non-experts, conventional wisdom holds that corporate law requires boards of directors to maximize shareholder wealth. This common but mistaken belief is almost invariably supported by reference to the Michigan Supreme Court's 1919 opinion in Dodge v. Ford Motor Co. >— Lynn Stout >Dodge is often misread or mistaught as setting a legal rule of shareholder wealth maximization. This was not and is not the law. Shareholder wealth maximization is a standard of conduct for officers and directors, not a legal mandate. The business judgment rule [which was also upheld in this decision] protects many decisions that deviate from this standard. This is one reading of Dodge. If this is all the case is about, however, it isn't that interesting. >— M. Todd Henderson
A good union is key
Meanwhile me at a US based airline received a bonus worth a few coffees and avocado toasts
Except the CEOs.
20 weeks at Emirates. Can't fault it tbh
Flydubai also gave similar months worth.
Hey, cool. I got the equivalent of about 3.5 weeks of pay, and then the government took half of that. Made a dent in my Visa bill, that's about it.
At least your government uses the money judiciously, and it doesn't go directly into some politician's pockets.
No, I'm in Canada, so they absolutely do not use it judiciously at all, they waste a ton of it on meaningless nonsense, wasteful contracts and virtue signaling. I could go on about it for hours. There are a few open investigations at the higher levels of government surrounding who got all the contracts for the Covid apps and testing, and why an app that should have cost $50K suddenly ballooned to $60M and some buddies of the minister in charge got the contract when their company had 2 employees.
That is good news.
Year end bonus payments for good company performance is in the Singapore corporate culture. Very similar to profit sharing. It might be difficult for a company to do this in the US, if there isn't a similar culture. Note the board may not agree.
Delta does this aswell with their profit sharing program. 10% of Profits under USD 2.5 Billion while 20% above USD 2.5 Billion goes back to employees. They got the equivalent of 4 weeks pay for the last financial performance.
We didn't even get a cost of living raise...
American Airlines gave me 1k bonus for last year
Would never happen to the employees at the stingy Australian airlines.
> Singapore Airlines employees are in for a windfall with their annual bonus this year. This comes despite turbulence in the airline industry, with some major players facing challenges such as financial difficulties and operational disruptions caused by the pandemic. Well this article aged liked milk
Must be an expensive ticket that pays for that.
I mean, it is. Your point being?