IndiGo, a budget airline, has introduced a unique reward scheme to acknowledge its employees’ outstanding contributions during fiscal year 2024. As part of their May 2024 salary, staff will receive a special one-time bonus equivalent to 1.5 times their monthly earnings, provided as an ex-gratia payment.
The airline attributed this incentive to its steady recovery from the challenges posed by the Covid-19 pandemic since the latter half of 2022. IndiGo highlighted its robust performance and financial stability during this period, reflecting a positive trajectory moving forward.
IndiGo’s financial resilience was evident as its earnings surged by 110% in the third quarter of fiscal year 2024, buoyed by increasing air travel demand. Standalone earnings for the quarter ending December 31 reached Rs 2,998 crore, marking a significant rise from Rs 1,423 crore during the same period the previous year. CEO Pieter Elbers underscored the company’s adaptability in navigating the pandemic and reaffirmed its commitment to growth and innovation, notably with the recent landmark announcement of acquiring 30 Airbus A350-900 aircraft, representing a total investment of $9 billion.
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