A single person can live quite nicely on that and even save some money up. Married with children it will be a struggle as you won't have the expat benefits, such as housing and school fees but won't have citizen benefits such as purchasing government provided housing, low local school fees and subsidised hospitals either.
Time to command an issue as currently top heavy and merging with Silkair however currently losing pilots to China so conditions and/or upgrade time may improve.
https://www.straitstimes.com/singapo...lobal-shortage
A good opportunity to join a leading airline if young and single. Apply for permanent residence after a couple of years which gives numerous benefits and is the gateway to citizenship and a grade A passport which could be of interest if currently holding a less desirable travel document.
Middle Eastern airlines have much better expat packages but don't offer a good living environment. This offer does look like a better option than joining Cathay though. Only you can decide what best suits your own circumstances.