No salary cuts at IndiGo
With free cash reserves of over ₹9,000 crore, the airline has decided to pay heed to the government’s wish of not reducing pay for employees during the lockdown; it had announced pay cuts earlier.
ronojoy dutta
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May 2019
IndiGo announces pay cuts as air travel plummets
The airline’s CEO Ronojoy Dutta is taking a 25% cut in salary, while all other employees will have to take a pay cut ranging between 5% and 20%; Employees in bands A and B are exempted.
IndiGo’s Q3 profit zooms 168%
Better ticket yields, higher passenger growth, and lower fuel costs helped the airline post a profit of ₹496 crore compared to a loss of over ₹1,000 crore in the previous quarter.
Qatar Airways, IndiGo seal tie-up
Akbar Al Baker, group chief executive of Qatar Airways, said the airline was keen on buying a stake in IndiGo, but the time was not right.
IndiGo reports ₹1,062 crore loss in Q2
Higher aircraft maintenance costs, employee expenses, and mark-to-market losses on capitalised operating leases drag the airline further into the red in a seasonally weak travel period.
‘Domestic air traffic growth to bounce back to 10-12%’
Even as domestic traffic growth is on the rebound, India’s largest airline IndiGo reported profit growth of 401.2% in Q4 of FY19.
There may be differences on certain matters: IndiGo CEO
IndiGo CEO Ronojoy Dutta issued a statement to dispel speculations over a possible rift between the airline’s two co-founders. But, he did allude to the fact that there were differences.
IndiGo’s billionaire troubles
Given IndiGo’s market domination, the reported rift between Rakesh Gangwal and Rahul Bhatia, the billionaire co-founders of the airline, could have an adverse impact on the Indian aviation industry.
