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Air India announces salary hike of up to ₹15,000 per month for pilots, annual performance bonus: Details
Air India salary hike: From first officer to senior commander positions, salaries have been increased by 5,000 to 15,000 in fixed pay per month. Details here
Published on: May 24, 2024, 09:23:11 IST
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Air India salary hike: Air India announced salary hike of up to ₹15,000 for pilots and annual performance bonus of up to ₹1.8 lakh. The Tata Group-owned airline's revised salaries will be effective from April 1, it said.
What Air India said on salary hikes?
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- From first officer to senior commander positions, salaries have been increased by ₹5,000 to ₹15,000 in fixed pay per month.
- Bonus of ₹42,000 to ₹1.8 lakh per annum will be given from junior first officer to senior commanders.
- First officer and captain will receive ₹60,000 in annual bonus. Read more: Jensen Huang predicts AI-generated videos will push demand for Nvidia chips
- Commander and senior commander will get 1.32 lakh and 1.80 lakh bonus.
- There is no salary hike was announced for junior first officers.
- There will also be compensation for pilots who faced inordinate delays in their ground and simulator training.
- The airline has also introduced an annual target-based performance bonus for financial year 2024-25 which will be paid on the basis of company and individual performance.
- Individual performance will be assessed using Rise.AI, the airline said.
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This comes as the airline reported a loss of ₹11,381 crore in FY 23 which was up 18.6 percent from the previous fiscal year when loss was at ₹9,591 crore. Air India's revenues from operations doubled to ₹31,377 crore in FY23 from ₹16,763 crore the same time last year and total expenses for the fiscal year ending on March 31, 2023, increased by approximately 40.3 percent, it said.
