There are numerous posts about Singapore's airline here on the net. Please check also under Jet Star and Tiger for general information.
The mentioned salary numbers are correct, but there used to be always some "idle" time where you got less than they promised, since the salary consists of a fix and a variable (by hour) part. At the moment this danger isn't so big because there is a bit of understaffing.
It's also correct that cost of living has gone up, but it's still way cheaper than all other SE Asia's metropolis'. Please check sites like
www.singaporeexpats.com for actual prices. It has become difficult, but you still get reasonable condos close to the airport, if you are willing to go to Pasir Ris, Simei and Tampines. There are very nice condos, but you just live far away from the city center. If you don't care about this, it's perfect, 5 min to the airport, all's there, even the beach.
Dani