IndiGo announces bonus for employees worth 1.5 times monthly salary in May

IndiGo on Thursday announced a 1.5-month bonus for each employee, citing solid performance since the latter half of 2022 and achieving "net worth positive" status in February.

IndiGo, a low-cost carrier, has announced a unique incentive for its staff in gratitude of their great achievement in fiscal year 2024. According to the airline's May 2024 salary, employees will get a one-time bonus equal to 1.5 times their monthly income, which will be paid out as an ex-gratia payment.

The airline stated in a statement that the incentive comes after it began recovering damages from the Covid-19 epidemic in the second half of 2022. It also stated that it has "demonstrated a solid and strong performance" since then.

Since the second half of 2022, the airline has gradually regained its footing, demonstrating strong performance and financial success.

IndiGo's earnings increased by 110% in the third quarter of fiscal year 2024 as air travel demand grew. Standalone earnings for the quarter ended December 31 rose to Rs 2,998 crore, up from Rs 1,423 crore in the same time the previous year.

IndiGo CEO Pieter Elbers has emphasized the company's resiliency in dealing with the epidemic and confirmed its favorable trajectory. Elbers also emphasised IndiGo's commitment to development and innovation, highlighting the recent milestone announcement of the procurement of 30 Airbus A350-900 aircraft for a total investment of $9 billion.

On April 25, IndiGo secured an order for 30 Airbus A350-900 aircraft valued at $9 billion. It should be mentioned that this was the first time IndiGo struck an agreement to purchase widebody aircraft. In addition, the airline has won the option to purchase up to 70 additional Airbus aircraft, bolstering its expansion prospects. The airline plans to begin deliveries of its widebody Airbus A350-900 aircraft in 2027.