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Singapore Airlines Annual Report 2007-08
66
FINANCIAL REVIEW
Performance of the Company (continued)
Average Staff Strength and Productivity
The฀Company’s฀average฀staff฀strength฀was฀14,071,฀an฀increase฀of฀224฀over฀the฀previous฀year.฀The฀distribution฀of฀employee฀
strength฀by฀category฀and฀location฀is฀as฀follows:
2007-08 2006-07 % Change
Category
Senior฀staff฀(administrative฀and฀higher฀ranking฀ofcers)฀ 1,325฀ 1,316฀ +฀ 0.7
Technical฀crew฀ 2,212฀ 2,128฀ +฀ 3.9
Cabin฀crew฀ 7,043฀ 6,836฀ +฀ 3.0
Other฀ground฀staff฀ 3,491฀ 3,567฀ –฀ 2.1
฀ 14,071฀ 13,847฀ +฀ 1.6
Location
Singapore฀ 11,885฀ 11,613฀ +฀ 2.3
East฀Asia฀ 936฀ 945฀ –฀ 1.0
Europe฀ 404฀ 419฀ –฀ 3.6
South฀West฀Pacic฀ 350฀ 369฀ –฀ 5.1
West฀Asia฀and฀Africa฀ 278฀ 263฀ +฀ 5.7
Americas฀ 218฀ 238฀ –฀ 8.4
฀ 14,071฀ 13,847฀ +฀ 1.6
The฀Company’s฀average฀staff฀productivity฀ratios฀are฀shown฀below:
2007-08 2006-07 % Change
Seat฀capacity฀per฀employee฀(seat-km)฀ 8,096,020฀ 8,127,667฀ –฀ 0.4
Passenger฀load฀carried฀per฀employee฀(tonne-km)฀ 618,295฀ 613,211฀ +฀ 0.8
Revenue฀per฀employee฀($)฀ 906,801฀ 819,232฀ +฀10.7
Value฀added฀per฀employee฀($)฀ 368,382฀ 368,831฀ –฀ 0.1
Share Capital
During฀the฀nancial฀year,฀the฀Company฀issued฀22,717,093฀shares฀upon฀exercise฀of฀options฀granted฀under฀the฀Employee฀Share฀
Option฀Plan.
In฀addition,฀the฀Company฀cancelled฀84,309,846฀shares฀at฀the฀price฀of฀$18.46฀per฀share฀pursuant฀to฀a฀capital฀reduction฀
exercise.฀1,093,530฀shares฀were฀issued฀under฀a฀top-up฀offer฀of฀new฀shares฀at฀the฀price฀of฀$18.46฀per฀share฀following฀the฀
capital฀reduction.฀The฀offer฀was฀given฀to฀shareholders฀to฀round฀up฀their฀holding฀of฀shares฀after฀the฀capital฀reduction฀to฀the฀
nearest฀multiple฀of฀200฀shares.
Treasury Shares
During฀the฀nancial฀year,฀the฀Company฀purchased฀2,301,000฀of฀its฀ordinary฀shares฀by฀way฀of฀on-market฀purchases฀at฀share฀
prices฀ranging฀from฀$13.92฀to฀$15.24.฀The฀total฀amount฀paid฀to฀purchase฀the฀shares฀was฀$33.2฀million.
Employee Share Option Plan
On฀2฀July฀2007,฀the฀Company฀made฀the฀ninth฀grant฀of฀share฀options฀to฀employees.฀Staff฀accepted฀12,324,345฀share฀options฀to฀
be฀exercised฀between฀2฀July฀2008฀and฀1฀July฀2017.
During฀the฀year,฀22,717,093฀share฀options฀were฀exercised฀by฀employees.฀As฀at฀31฀March฀2008,฀there฀were฀56,670,796฀
unexercised฀employee฀share฀options.