Singapore, May 17 -- Singapore Airlines Ltd. will reward staff with a bonus payout worth almost eight months of salary, according to a person familiar with the matter, after delivering a second consecutive record annual profit.

The payout is in effect higher than Singapore Airlines' previous year's earnings high, which resulted in a profit-sharing bonus equivalent to 6.65 months' pay and a maximum of 1.5 months' salary of ex-gratia bonus related to the pandemic. Singapore Airlines declined to comment.

The city-state carrier delivered a record S$2.67 billion ($1.98 billion) annual profit in the fiscal 2023-2024 year, 24 per cent higher than the year prior, according to an exchange filing Wednesday. The airline said near-term demand for f...