Singapore Airlines has recently announced that it would reward its employees with a bonus worth eight months of salary, as per a report in CNN. The company said on Wednesday that it made a record-breaking $1.98 billion in net profit for the fiscal year 2023-2024. According to the airline’s financial statement, “the demand for air travel remained buoyant” throughout the year, helped by a recovery in North Asia as China, Hong Kong, Japan, and Taiwan completely reopened their borders following the epidemic.

The Skytrax World Airline Awards last year awarded the Singapore carrier the best airline in the world. Notably, the airline has won the highest prize in the awards’ 23-year history for the sixth time.

Singapore Airlines CEO Goh Choon Phong stated that the award was the hard work of the team who made “many sacrifices to ensure that SIA was ready for the recovery in air travel.” He said, “That has allowed us to emerge stronger and fitter from the pandemic.”

Meanwhile, the Emirates Group declared record-breaking profits recently and gave its workers bonuses equal to 20 weeks’ worth of pay. The compensation will be given to group members together with their May paycheck.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman and CEO of Emirates Airline and Group, thanked the Emirates Group staff for their “heroic efforts” in an email obtained by Khaleej Times. In his letter, he praised their commitment, “for powering our collective ambitions and for achieving them, you deserve every dirham of the 20-week profit share.”

With notable profit and sales improvements for Emirate and Dnata in the last year, the group’s overall employment increased by 10% to 112,406, marking its greatest workforce to date. The workers represent more than 170 different nationalities and are dispersed throughout 84 countries.