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SIA launching foundation to help students in need, grow aviation industry
The Straits Times
|May 19, 2024
To help people and communities in need and spur growth in Singapore's aviation industry, national carrier Singapore Airlines (SIA) will be launching the Singapore Airlines Foundation.
SIA said on May 17 it will contribute $30 million to an endowment fund and the resulting income earned will be used to fund the foundation. An endowment fund refers to a portfolio of investments with the initial capital typically derived from donations.
The foundation will be established in the near future as a company limited by guarantee.
A company limited by guarantee is usually formed as a non-profit entity that has some public or national interest.
The foundation will be launching two programmes.
One is the Youth Uplift Programme, which is available to students in need and is intended to prepare them for careers, especially in the aviation industry.
Financial assistance will be given to eligible Singaporean students from the Institute of Technical Education (ITE), polytechnics or universities.
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