Pay increase for pilots at Air India: The airline has announced salary increases of up to ₹15,000 and yearly performance bonuses of up to ₹1.8 lakh. The airline, owned by the Tata Group, said that the new pay will take effect on April 1.
What did Air India say about pay increases?
In fixed pay every month, wages have been increased by ₹5,000 to ₹15,000 for jobs ranging from first officer to senior commander. Senior commanders would get bonuses ranging from ₹1.8 lakh to ₹42,000 annually, starting from junior first officers. Additionally, the captain and first officer will get a yearly bonus of ₹60,000.
The bonuses for commanders and senior commanders are 1.32 lakh and 1.80 lakh, respectively. No pay increase for subordinate first officers has been announced. Pilots who experienced excessive delays during their ground and simulator training will also get reimbursement.
For the fiscal year 2024–2025, the airline has also implemented an annual target-based performance incentive that will be awarded based on both individual and corporate success. Rise will be used to evaluate each person's performance.
This occurs after the airline revealed that it lost ₹11,381 crore in FY 23, an increase of 18.6% over the ₹9,591 crore loss in the prior fiscal year. According to the company, overall costs for the fiscal year ending on March 31, 2023, climbed by around 40.3%, while Air India's operating revenues quadrupled to ₹31,377 crore in FY23 from ₹16,763 crore at the same time previous year.
