IndiGo announces one-time bonus to its employees in May salary
IndiGo announces one-time bonus to its employees in May salary
Domestic carrier IndiGo on May 2 said that a one-time bonus of 1.5 times the monthly salary will be given to its employees with the salary of May 2024 for stellar performance in FY24. The amount will be disbursed as an ex-gratia.
In a statement, the airline mentioned that it started to recover the losses incurred during Covid-19 during the second half of 2022 and since then, “we demonstrated a solid and strong performance.”
Considering this, IndiGo swung pack to profit in its Q3FY24 results when it reported a surge of 110 percent in its third-quarter profit on the back of strong air travel demand. The company reported a standalone profit of Rs 2,998 crore for the quarter ended December 31, compared to Rs 1,423 crore in the year-ago period.
“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.
From here, we can start further building our future and obviously the recent momentous wide-body fleet announcement is a further testament to both our belief and commitment towards the future of IndiGo.
On April 25, the low-cost carrier IndiGo placed order for 30 Airbus A350-900 aircraft, worth $9 billion. This is airline’s first purchase of widebody aircraft after operating two widebody planes on the Delhi-Istanbul route for the last 15 months (since February 1, 2023).
IndiGo, whose parent is InterGloble Aviation, also has the right to buy up to 70 more of the Airbus aircraft.
Elbers had also mentioned that IndiGo will start taking deliveries of its widebody Airbus A350 aircraft by 2027.