The airline said in the May 2024 salary, employees will receive a one-time bonus equivalent to 1.5 times their monthly salary, to be disbursed as an ex-gratia payment.
IndiGo attributed the bonus to solid financial performance.
New Delhi,UPDATED: May 2, 2024 20:28 IST
Low-cost carrier IndiGo has announced a special reward for its employees as a token of appreciation for their outstanding performance in the fiscal year 2024.
The airline said in the May 2024 salary, employees will receive a one-time bonus equivalent to 1.5 times their monthly salary, to be disbursed as an ex-gratia payment.
The airline said in a statement that the bonus comes after the airline started recovering losses incurred during the Covid-19 pandemic during the second half of 2022. It added that it has “demonstrated a solid and strong performance” since then.
Since the second half of 2022, the airline has been steadily regaining its footing, showcasing robust performance and solid financial results.
During the third quarter of the fiscal year 2024, IndiGo reported a 110% surge in its profits as demand for air travel gained momentum. Standalone profits for the quarter ended December 31 soared to Rs 2,998 crore, marking an increase from Rs 1,423 crore in the corresponding period of the previous year.
IndiGo CEO Pieter Elbers had earlier highlighted the company's resilience in overcoming the challenges posed by the pandemic and reaffirmed its positive trajectory.
"For Q3 FY24, we reported a profit after tax of Rs 3,000 crore with a profit after tax margin of 15.4 per cent. With these five consecutive quarters of profit, we continue to recover from the losses of Covid and have now become net worth positive again," IndiGo CEO Pieter Elbers had said earlier.
Elbers also highlighted IndiGo's commitment to growth and innovation, citing the recent milestone announcement regarding the acquisition of 30 Airbus A350-900 aircraft, representing a substantial investment of $9 billion.
On April 25, IndiGo placed an order for 30 Airbus A350-900 aircraft, worth $9 billion in value. It may be noted that this marked the first time IndiGo signed a deal for purchasing widebody aircraft.
In addition, the airline has secured the option to purchase up to 70 more Airbus aircraft, further solidifying its expansion plans.
The airline expects to start taking deliveries of its widebody Airbus A350-900 aircraft by 2027.
Published By:
Koustav Das
Published On:
May 2, 2024
English (US) ·