IndiGo Announces Special Bonus for Staff | Latest News
May 02, 2024 20:11
IndiGo, India's largest airline, has announced a special bonus for its employees ahead of its fourth-quarter results. The bonus is equivalent to 1.5 months' basic salary and will be disbursed with May's salary.
Mumbai, May 2 (PTI) Budget carrier IndiGo on Thursday announced a special bonus for its staff.
The decision comes ahead of the airline's fourth quarter and full-year results, likely to be announced late next month, and also less than a week after the airline placed an order for 30 wide-body A350 aircraft.
In a communication to the staff, the airline said it would give a one-time special bonus equivalent to "1.5 months' basic salary", according to two sources.
The bonus amount will be disbursed along with the employees' May salary as an ex-gratia.
IndiGo, which has a domestic market share of more than 60 per cent, offers an annual bonus depending on the actual operational and financial results of the company.
The airline has remained profitable for five straight quarters, and in the three months ended December 2023, its profit after tax more than doubled to Rs 2,998.1 crore.
In 2022-23, the airline's salaries, wages and bonuses amounted to Rs 4,190.294 crore. It had 33,045 employees at the end of March 2023, according to its annual report.
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