Tigerair Taiwan has set a new precedent for employee bonuses in 2023, as the travel industry witnesses a significant rebound.
About 800 employees at Tigerair Taiwan have something extra to celebrate as Chinese New Year approaches, with the budget airline granting them an average bonus equivalent to 10.8 months’ salary.
The generous bonus was disclosed by the company’s chairman, Chen Han-ming, during a board meeting on January 15, according to Taiwan’s Central News Agency.
Chen approved a proposal that includes four months’ worth of pay for each employee, a standard bonus of NT$20,000 (approximately S$850), and performance-based bonuses ranging from NT$50,000 to NT$80,000. This additional bonus comes on top of what the company had already distributed in August and December 2023.
Exceptional performers within the company reportedly received bonuses of up to 14 months for their hard work throughout 2023.
Chen expressed gratitude to the staff for their resilience during the challenging period of the Covid-19 pandemic. As air travel demand rebounded, Tigerair Taiwan achieved a record high in consolidated sales, reaching NT$12.6 billion in 2023 – a remarkable increase of nearly 850% compared to 2022.
In a letter to employees in December 2023, Chen had hinted at the forthcoming generous bonus, describing it as a “10 out of 10” in terms of sincerity and satisfaction. Speculations were rife that the bonus would amount to 10 months of their monthly wages.
Established in 2013 as a joint venture between China Airlines and Singapore’s low-cost carrier Tigerair, Tigerair Taiwan saw the merger of Tigerair Singapore into Scoot in 2017.
Notably, other airlines in Taiwan have also recognized the efforts of their employees with substantial bonuses. China Airlines announced a five-month bonus along with a one-time cash reward, while Eva Airways declared a year-end bonus equivalent to six months’ pay – the highest in the company’s history, as reported by Taipei Times.
