SIA gives $45m payout to staff

SIA gives $45m payout to staff

SINGAPORE: Singapore Airlines (SIA) reported a net profit of S$259 million (US$150 million) in the first quarter, a rebound from its S$312 million loss in the same period last year at the height of the SARS outbreak.

Friday's profit report came on the heels of an announcement that it had paid S$78 million to its 13,000 staff who took pay cuts last year as the flu-like illness hit the airline's profitability.

The payout was the amount staff lost in pay cuts over the past year plus an additional 15 percent, airline spokesman Stephen Forshaw said. -- AP