Singapore Airlines CEO received a 13.5% y-o-y decrease in his annual salary for the FY2024/2025 of $7.013 million, according to the company’s annual report filed June 25.

Goh Choon Phong was paid over $8 million in the year before. This year, over $3.12 million of his salary was from bonuses. His base salary is $1.456 million.

This comes on the back of the airlines reporting record earnings.

For the full year FY2024/2025, SIA’s revenue grew 2.8% y-o-y for the FY2024/2025 to $19.5 billion. This was driven by resilient demand for air travel and cargo uplift in the whole year.

SIA’s chief commercial officer Lee Lik Hsin and chief operations officer Tan Kai Ping, each drew a total remuneration of between $3 million and $3.2 million for FY2024/2025, down from the between $3.5 million and $3.75 million for FY2023/2024.

SIA says that for FY2024/2025, the aggregate total remuneration paid to the relevant key management personnel (who are not the CEO) amounted to $8.9 million. There were no termination, retirement or post-employment benefits granted to directors, the CEO and relevant key management personnel other than the standard contractual notice period termination payment in lieu of service, and the industry standard post-retirement travel benefits.

The group awarded its eligible staff with a bonus of 7.45 months for FY2024/2025.

Shares in SIA Group closed 2 cents higher or 0.292% up at $6.87 on June 25.