SpiceJet hikes salaries for pilots, to pay ₹7.5 lakh per month
1 min read 23 May 2023, 10:12 PM ISTSalary of captains has been increased to ₹7.5 lakh-a-month for 75 hours of flying. The hike will be applicable from May 16, 2023: The official release from SpiceJet read
PremiumSpiceJet, which completed 18 years of flying on Tuesday, announced that they have decided to hike the salary of their captains to ₹7.5 lakhs per month for flying 75 hours. SpiceJet also announced that a tenure-linked loyalty reward has also been introduced for captains.
SpiceJet also informed that trainers and first officers will also see increased salary commensurately.
"Salary of captains has been increased to ₹7.5 lakh-a-month for 75 hours of flying. The hike will be applicable from May 16, 2023," the airline, which completed 18 years of operations on Tuesday, said.
The announcement also elaborated on the loyalty reward program. The release announced tenure-linked monthly loyalty reward for its captains of up to ₹1,00,000 per month. This amount will be over and above their monthly remuneration, the release said.
Notably, the airline had revised salaries for its pilots in November 2022 wherein the salary of captains was raised to ₹7 lakh-a-month for 80 hours of flying.
SpiceJet has been facing headwinds from their employees for delay in salary.
Earlier in the day, SpiceJet Chairman and Managing Director Ajay Singh told employees that as part of the airline's overall growth strategy, a restructuring exercise is underway to further reduce its liabilities as that will allow it to pursue its growth targets with focused efficiency.
Further SpiceJet also announced cheaper airfares on its 18th anniversary. The domestic budget airlines have announced starting ticket flight at ₹1,818.
The Gurugram-headquartered airline has announced a special sale for one-way domestic fares from ₹1,818 only. The offer is available on routes like Bengaluru-Goa and Mumabi-Goa. Passengers can take advantage of the sale from 23 May to 28 May. Passengers can book flights under the offer from 1 July to 30 March 2024.
These developments were also coupled with Spicejet's share price hitting a fresh 52-week low. The stock nosedived by a little over 19% on BSE.
