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In line with profits, IndiGo is revising salaries for its pilots from October 1, for the second time in three months.
“As shared in my previous communication, we witnessed a strong quarterly performance in the last quarter and remain grateful to our passengers who continue to repose their faith in us! As you are aware we have incurred significant losses in the last few financial years, we have managed to partially offset some of those losses with a profitable performance in the last three quarters. We are encouraged and excited as we look ahead towards a stronger and brighter future,” Capt Ashim Mittra, Sr Vice-President Flight Operations, informed the employees in an internal email reviewed by businessline.
He further said internationally, a variable minimum salary of 70 hours is followed.
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IndiGo is to increase salaries of its 4,500-plus pilots after posting a record net profit of ₹3,090 crore in the first quarter of FY2024. The revised salary will come into effect from October.
“We have been through tough years due to the pandemic, but we have stood strong and together to overcome the challenges we faced. I can proudly say that all of you contribute in more ways than one, every time you undertake a flight! Salary revisions require much-needed thought, and I would like to thank our senior Leadership in ensuring that we always recognise your efforts, dedication and service in IndiGo,” he added in the letter.
Akasa’s minimum hours is set at 40 hours according to an internal document reviewed by businessline.
He further said that IndiGo is aligning to introduce the following new or revised categories on Airbus & ATR fleet from October 1.
“The staff and the salary cost part, we have indeed restored the salaries. I told you earlier, we have three consecutive quarters of positive results. And with the results, we have also restored the salary cuts we did at the end of last year, and we are comparing now to the quarter of the year before. And indeed, the annual increments are included as well,” Pieter Elbers, CEO, IndiGo, had said in the post-earnings call for the quarter ended Q1 FY24.
IndiGo’s employee cost for the Q1 of FY24 was ₹1,449.79 crore which was up from ₹1,298.16 crore in March quarter of FY23 and ₹1,058.29 crore in June quarter FY23.
As of June this year, the airline operated 316 aircraft, including a mix of Airbus and ATR-72 aircraft. The airline has two Boeing 777 aircraft on wet-lease from Turkish Airlines.
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