The aviation industry is one of the hardest hit amid the coronavirus pandemic. India’s biggest private airline, IndiGo on Thursday announced pay cuts for most of its employees.
IndiGo CEO Ronojoy Dutta will take a 25 per cent cut in salary, senior vice presidents and above will take a 20 per cent pay cut while vice presidents and cockpit crew will get 15 per cent pay cut. Bands D along with cabin crew will get a 10 per cent cut and Band Cs will have five per cent salary drop.
“With the precipitous drop in revenues, the very survival of the airline industry is now at stake,” Dutta said in his email to employees. “We have to pay careful attention to our cash flow so that we do not run out of cash.”
The company is, however, not initiating a pay cut for Band A and B employees which is the lowest salary bracket.
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