Air India on Thursday announced annual salary increments for its staff, and also introduced an annual target performance bonus for pilots, according to sources. This is the first appraisal process after Tata Group took over the loss-making airline a little over two years ago.
On Thursday, Air India CHRO Ravindra Kumar GP announced salary increments for employees, with effect from April 1, 2024, as well as performance bonus payouts for FY 2023-24 based on company and individual performance, sources said.
Pilots will get an increase of ₹5,000 to ₹15,000 per month in their fixed pay. Also, they will be entitled to annual target performance bonus ranging from ₹42,000 to ₹1.8 lakh. This payout will be based on company and individual performance.
Similarly cabin crew will be paid annual performance bonus of around ₹25,000. Cabin crew will also get a standard salary increase for FY 25 effective from April.
Air India has around 18,000 employees.
While announcing the appraisals, CHRO Kumar said that in the last financial year, the airline achieved key milestones of laying strong foundations for growth and transformation.
As part of the Vihaan.AI journey, the airline introduced the contemporary annual performance appraisal process rise. AI also transitioned to a simplified, market-competitive and productivity-oriented compensation structure for employees, he added.
In late 2022, Air India announced the five-year transformation plan Vihaan.AI.
Air India group has four airlines – Air India, Air India Express, AIX Connect (formerly AirAsia India) and Vistara. Air India Express is merging AIX Connect with itself, and Vistara will be merging with Air India.