Latest news with #GohChoonPhong
Straits Times
19-07-2025
- General
- Straits Times
2 agencies supporting children with disabilities get $3m from SIA fund-raising drive
Find out what's new on ST website and app. Over 400 beneficiaries and caregivers attended the SIA Cares Open House held at the SIA Training Centre in Upper Changi on July 19. SINGAPORE – Two social service agencies that support children and youth with disabilities and developmental needs received a total of $3 million from Singapore Airlines, as part of the national carrier's SIA Cares fund-raising drive. On July 19, SIA chief executive Goh Choon Phong presented AWWA and Rainbow Centre with a symbolic cheque at the SIA Cares Open House held at the SIA Training Centre in Upper Changi. Over three months, SIA's partners and staff, as well as the public, raised $1.5 million in donations, which SIA matched with another $1.5 million. As part of SG60 celebrations, the Government will also make a $3 million donation to the Community Chest, matching the amount raised by SIA. Community Chest – the philanthropic arm of Singapore's National Council of Social Service – supports children with special needs, children at risk and low-income families, along with other causes. SIA said on July 19 that AWWA will use the funds to enhance its therapy services, independent living skills training, as well as its free co-curricular activities, to engage students with disabilities, among other efforts, in its special education schools in Hougang and Bedok. Rainbow Centre will strengthen its special education programme across its Admiral Hill, Margaret Drive and Yishun Park campuses, so that children with autism or multiple disabilities can get a personalised approach to address their needs. Top stories Swipe. Select. Stay informed. 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Karthikeyan said: 'The provision of high-quality services and greater inclusion require the efforts of many helping hands, and we are grateful to Singapore Airlines and its partners for their compassion and spirit of giving.' Ms Tan Sze Wee, executive director of Rainbow Centre, added that SIA's contribution will help the children and youth people under them grow and thrive. Meanwhile, Community Chest will use the funds to address underserved social needs, including support for children with special needs, youth-at-risk, adults with disabilities, persons with mental health conditions and seniors and families needing assistance. SIA's Mr Goh said its efforts to raise funds reflects its commitment to Singapore's social service agencies. 'The funds will enhance programmes at AWWA and Rainbow Centre, empowering young people with vital life skills and opportunities for greater independence and inclusion. Additionally, it will support Community Chest's broader initiatives benefitting society at large,' he said. Over 650 Singapore-based SIA staff members volunteered to organise and run the open house for nearly 900 beneficiaries and caregivers from 33 social service agencies over the July 19 weekend. Visitors went on guided tours of SIA's training facilities, learnt how flight training simulators work, and explored an SG60 and SIA heritage showcase which featured a digital interactive installation on Singapore's nation building journey. They also had the opportunity to talk to SIA cabin crew, pilots and engineers. For lunch, visitors enjoyed a selection of SIA's in-flight meals, including SIA's signature satay and nasi goreng. Deputy Prime Minister Gan Kim Yong speaking at the SG60 SIA Cares Open House on July 19. PHOTO: MDDI Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, who was guest of honour at the event, said that SIA, as Singapore's national icon, is well-placed to connect communities and help those in need. 'As we celebrate SG60 as a nation, we must remember that every Singaporean counts. We must continue to build a nation where every individual has a meaningful stake in society, and where we are invested in one another as well as in our shared future,' he said . Muhammad Ziqri Muhammad Abidin, 10, who has autism spectrum disorder and is a student at AWWA's special education school in Bedok, said his favourite part of the open house was getting to sit in the mock-up business class seat, as he has never been on a plane before. His mother, Ms Nur Aliza Kamsan, 38, said the open house was a rare and meaningful opportunity. 'For children like Ziqri, it's not every day they get to see aviation facilities up close. Experiences like this make a big difference, giving them joy and memories they can cherish,' she said.
Skift
27-06-2025
- Business
- Skift
Singapore Airlines' Emissions Rise, Climate Rules Threaten Higher Costs
Singapore Airlines' growing fleet of more fuel-efficient aircraft shows commitment to lower emissions, but it also locks in decades of continued fossil fuel use, with sustainable aviation fuel still limited. Singapore Airlines' emissions are rising as the carrier expands operations, but the company says it remains on track to hit its 2050 climate goals. In its latest sustainability report, Singapore Airlines Group reported that total emissions rose more than 13% over the past financial year, from 18.8 million tonnes of CO₂e to 21.4 million tonnes. The airline, which has orders for over 70 new planes, pointed to strong passenger demand and ongoing airspace restrictions, which have forced longer flight routes, as key reasons behind the increase. The company's CEO, Goh Choon Phong, said its investment in newer aircraft, which the industry says emits up 25% less carbon, will help in plans to reduce emissions to almost zero by 2050. 'Our long-term commitment to investing in and operating new-generation aircraft puts us in a strong position,' Goh said. 'As of 31 March 2025, the average age of the Group's operating fleet was seven years and eight months, well below the global average of 15 years.' Rising Costs From Climate Rules and Compliance At the same time, the carrier warned that complying with international climate regulations could come at a significant cost in the years ahead. It estimated the global aviation carbon offsetting scheme, known as CORSIA, which most airlines are a part of, could cost the airline around $150 million by 2030. CORSIA requires airlines to purchase credits if their emissions exceed 85% of their 2019 levels, with the goal of offsetting the climate impact of growing international air travel. In its report, the airline flagged its scope 1 emissions, which are mainly made up of fuel, as the main driver of future compliance costs. Singapore Airlines pointed to sustainable aviation fuel (SAF) as a long-term solution. SAF can reduce emissions by around 65% compared to traditional jet fuel, according to the sector. The airline called SAF 'a critical lever for decarbonisation' and said it would continue to support its development and use. Managing Climate Risks singapore airlines helped install flood defences at singapore airport. source; changi airport group The airline said that other climate-related risks, such as extreme weather and infrastructure threats, currently have a limited financial impact. However, it estimated that direct costs from these risks could reach up to around $35 million by 2030. As part of its preparations, Singapore Airlines said it has invested in flood prevention measures at Singapore Changi Airport, including flood barriers and new drain sensors. Skift contacted Singapore Airlines for additional comment on its climate strategy and financial forecasts, but the company did not respond. Skift's in-depth reporting on climate issues is made possible through the financial support of Intrepid Travel. This backing allows Skift to bring you high-quality journalism on one of the most important topics facing our planet today. Intrepid is not involved in any decisions made by Skift's editorial team.
Independent Singapore
27-06-2025
- Business
- Independent Singapore
SIA CEO's annual pay fell 13.5% to S$7m despite record profit
Photo: Facebook/Singapore Airlines SINGAPORE: Singapore Airlines (SIA) chief executive officer Goh Choon Phong's annual salary fell by 13.5% to S$7.01 million for the financial year ended March 31. According to Singapore Business Review, Mr Goh's pay package included a base salary of S$1.46 million, S$3.12 million in bonuses, and S$2.44 million in shares and other benefits. In July last year, Mr Goh received a salary of S$8.11 million, 20.5% higher than his salary the previous year , thanks to a post-pandemic travel boom. Mr Goh's annual salary dropped this year even though the group recorded a net profit of S$2.78 billion for the year ended March 31, up from S$2.68 billion the year before. Eligible SIA staff will also see slimmer takings with a 7.45-month bonus for FY2025, slightly lower than the 7.94 months awarded the previous year. The group's profit was boosted by a one-off non-cash gain of S$1 billion after the Air India–Vistara merger was completed in November 2024. See also DBS: S-REITs will continue to be net outperformers in 2024 In November, Singapore Business Review reported that SIA completed the Vistara–Air India merger, giving it a 25.1% stake in the expanded Air India. The group, which includes budget airline Scoot, also posted record revenues after carrying a record 39.4 million passengers. However, the group's operating profit fell 37% as passenger yields declined amid growing competition, though both remained above pre-pandemic levels. In a letter to shareholders, SIA's chairman Peter Seah credited SIA's performance to effective cost management through the company's digital and staff productivity initiatives amid rising expenses. He noted, 'In a year marked by rising geopolitical tensions, supply chain constraints, cost inflation, and an increasingly uncertain macroeconomic landscape due to global tariff wars, the Singapore Airlines (SIA) Group successfully delivered another impressive performance.' Looking ahead, Mr Seah added, 'While aviation landscape is rapidly evolving, the SIA Group is in a strong position to not only withstand these changes but to shape them.' /TISG Read also: Sheng Siong CEO Lim Hock Chee's FY2024 pay rises 20.6% to S$7.06M on bigger bonus See also What We Demand in Return for Fare Hikes
CNA
25-06-2025
- Business
- CNA
SIA CEO's annual pay falls nearly 14% to S$7 million despite record profit
SINGAPORE: The chief executive officer of Singapore Airlines (SIA) Goh Choon Phong received an annual salary of S$7.01 million (US$5.47 million) for the latest financial year ended Mar 31, according to the national carrier's annual report released on Wednesday (Jun 25). This marked a 13.5 per cent drop from the S$8.11 million salary package that he took home in the previous year. Mr Goh's annual remuneration for FY2024/25 comprises a base pay of S$1.46 million, bonuses of S$3.12 million, as well as shares and benefits amounting to S$2.44 million. SIA reported a record annual net profit of S$2.78 billion for the financial year, up from S$2.68 billion a year earlier. The airline attributed this to a one-off gain of about S$1.1 billion from the merger of Air India and Vistara. Its operating profit fell 37 per cent from a year earlier to S$1.71 billion, as passenger yields - a proxy for airfares - dropped by 5.5 per cent due to stiff competition as airlines globally added capacity. Nevertheless, SIA rewarded eligible employees with a profit-sharing bonus of 7.45 months. This was slightly below the 7.94 months' worth of profit-sharing bonus it issued in the previous year, the highest in the airline's history. In a letter to shareholders, chairman Peter Seah said the airline had delivered 'another impressive performance' despite a year marked by rising geopolitical tensions, supply chain constraints, inflation and an increasingly uncertain macroeconomic landscape due to a global tariff war. 'While aviation landscape is rapidly evolving, the SIA Group is in a strong position to not only withstand these changes but to shape them,' he wrote in the annual report.
Straits Times
25-06-2025
- Business
- Straits Times
SIA CEO's annual pay down 13.5% to $7m even as airline posts record earnings
SIA CEO Goh Choon Phong's pay package in the FY2023/2024 was $8.1 million. ST PHOTO: GIN TAY SIA CEO's annual pay down 13.5% to $7m even as airline posts record earnings SINGAPORE - Singapore Airlines (SIA) chief executive Goh Choon Phong saw his pay fell by 13.5 per cent to $7.01 million in the financial year ended March 31 , when the flag carrier's earnings reached a record high. According to SIA's annual report, released on June 25, Mr Goh's total remuneration package comprised $1.46 million in basic salary, $3.12 million in bonuses and $2.29 million in shares, with the remaining amount of more than $145,000 in benefits. Mr Goh's remuneration for FY2023-2024 was $8.1 million. His right-hand men, 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. Each of them were paid between $3.5 million and $3.75 million for FY2023-2024. This came as SIA posted a record net profit of $2.8 billion in FY2024-2025 , up slightly from the $2.7 billion in the year before. The airline rewarded eligible employees with 7.45 months of profit-sharing bonuses in the last financial year, down from 7.94 months in the year before. The company's record profit was boosted by a one-off non-cash accounting gain of $1.1 billion from the Air India-Vistara merger, it said in a filing on the Singapore Exchange on May 15. In his letter to shareholders in the annual report, SIA chairman Peter Seah said after the merger, SIA Group has a 25.1 per cent stake in the enlarged Air India Group, making it 'the only non-Indian airline with direct participation in one of the world's fastest-growing aviation markets'. Group revenue also climbed 2.8 per cent from the year before to hit a record $19.54 billion, driven by resilient demand for air travel and cargo uplift. SIA and its budget airline Scoot also carried a record 39.4 million passengers, up 8.1 per cent, it said. Despite carrying more passengers, passenger yields – the amount earned per passenger for each kilometre flown – dipped 5.5 per cent to 10.3 cents per revenue passenger-kilometre. This was amid intensified competition due to industry-wide capacity injection, SIA said. Passenger traffic growth, which stood at 6.4 per cent, also lagged behind its capacity expansion of 8.2 per cent. Meanwhile, its cargo flown revenue improved by $94 million, or 4.4 per cent, buoyed by the strong demand for e-commerce and perishables, as well as the spillover from disruptions to sea freight. Join ST's Telegram channel and get the latest breaking news delivered to you.
