IndiGo to hike salaries of pilots after solid growth in Q1FY24: Report
The airline on Wednesday reported a record net profit of Rs 3,090.60 crore in Q1 of FY24.
- Aug 3, 2023,
- Updated Aug 3, 2023 10:18 PM IST
Hours after reporting a record growth in the first quarter of FY24, InterGlobe Aviation, which operates India's largest domestic airline IndiGo, on Thursday said it will increase the salaries of its pilots and cabin crew effective from October 1.
Also read: InterGlobe Aviation Q1 results: Profit at Rs 3,091 crore; total income up 32%
The airline on Wednesday reported a record net profit of Rs 3,090.60 crore in Q1 of FY24. Soon after releasing the quarterly report, the airline's top executive shot an email to its staff in which it said it will hike the salary of pilots and cabin crew.
Also read: IndiGo shares at Rs 2,300 or Rs 3,000? Here are target prices post Q1 results
The airline said it has started the performance review for nearly 4,500 flight crew and new salaries will come into effect from October 1.
"While we regained and started to build our financial strength over this past year, we reviewed and reinstated salaries and allowances to pre-Covid levels," said IndiGo's senior vice-president (flight operations) Ashim Mitra in a staff email on August 2 as per Moneycontrol.
"In the coming months, we will be working with our HR team towards enhancing the salaries of our flight crew. The revised salary structure will be effective October 1."
According to the report, the airline's senior executives said that the salary hikes are likely to be in the range of high single-digit to mid-teens increases on the base salaries.
IndiGo on Wednesday said its quarterly profit after tax hit a record high of Rs 3,090.60 crore in the April-June quarter compared with a loss of Rs 1,064.30 crore in the corresponding quarter last year. Total income for the quarter came in at Rs 17,160.90 crore which was the highest ever, the airline said in an exchange filing.
The airline's total income was up 31.8 per cent on a year-on-year basis over Rs 13,018.80 crore in the same quarter last year. IndiGo said its passenger ticket revenues stood at Rs 14,995.60 crore, an increase of 30.8 per cent.
Hours after reporting a record growth in the first quarter of FY24, InterGlobe Aviation, which operates India's largest domestic airline IndiGo, on Thursday said it will increase the salaries of its pilots and cabin crew effective from October 1.
Also read: InterGlobe Aviation Q1 results: Profit at Rs 3,091 crore; total income up 32%
The airline on Wednesday reported a record net profit of Rs 3,090.60 crore in Q1 of FY24. Soon after releasing the quarterly report, the airline's top executive shot an email to its staff in which it said it will hike the salary of pilots and cabin crew.
Also read: IndiGo shares at Rs 2,300 or Rs 3,000? Here are target prices post Q1 results
The airline said it has started the performance review for nearly 4,500 flight crew and new salaries will come into effect from October 1.
"While we regained and started to build our financial strength over this past year, we reviewed and reinstated salaries and allowances to pre-Covid levels," said IndiGo's senior vice-president (flight operations) Ashim Mitra in a staff email on August 2 as per Moneycontrol.
"In the coming months, we will be working with our HR team towards enhancing the salaries of our flight crew. The revised salary structure will be effective October 1."
According to the report, the airline's senior executives said that the salary hikes are likely to be in the range of high single-digit to mid-teens increases on the base salaries.
IndiGo on Wednesday said its quarterly profit after tax hit a record high of Rs 3,090.60 crore in the April-June quarter compared with a loss of Rs 1,064.30 crore in the corresponding quarter last year. Total income for the quarter came in at Rs 17,160.90 crore which was the highest ever, the airline said in an exchange filing.
The airline's total income was up 31.8 per cent on a year-on-year basis over Rs 13,018.80 crore in the same quarter last year. IndiGo said its passenger ticket revenues stood at Rs 14,995.60 crore, an increase of 30.8 per cent.