indigoImage Credit source: File Photo
If you work in a private company, have you heard that after the better results of the company, you got the bonus of the employees. But for the first time after the Corona period, India’s largest airline Indigo is going to give 3 percent bonus of their salary to its employees. India’s largest airline Indigo has announced a bonus of 3% of salary to employees after the airline registered profit in the January-March quarter, which had to be discontinued from FY 2020 due to the impact of the Corona epidemic. Indigo was suffering a lot during this period.
Indigo says that we have been giving 5% bonus to crew members for many years. This is our tradition. But this bonus was discontinued due to losses for 3 years during the Corona epidemic. Hence the crew bonus could not be distributed. Indigo’s profits have started increasing since the last 2 quarters of the last financial year. Now more than half of the 5% crew bonus is being reinstated following the stellar results. Till the financial year 2019, the airline was paying 5% as bonus.
916 crores profit
The airline has recorded its highest ever profit of Rs 916 crore in the January-March quarter. However, for the full year of FY23, IndiGo is still in loss of Rs 306 crore, as against a loss of Rs 6,162 crore in FY22. At the same time, with the increase in capacity and load factor, revenue from operations increased by 76.5% year-on-year to Rs 14,160 crore. The yield was up 10.5% year-on-year but was lower than the December quarter due to weather.
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According to Indigo, since the financial year 2020, Indigo has registered a loss of Rs 12507.7 crore. Although the performance of 3 months cannot recover the losses of the last 3 years, but these positive results are very good to invest further in the growth and success of the company.
5 to 6 thousand people will get employment
The move to resume bonuses to crew members is to retain them and attract new ones as the airline pursues expansion. The airline plans to employ 5,000-6,000 employees in FY24 as it continues its expansion plans in India and overseas. Tata Group-owned Air India has increased salaries by 20% and offered faster career progression to its crew members as it looks to attract human resources to fulfill its 470 aircraft order.