NEW DELHI: IndiGo will from next month cut pay of all its employees up to 25%, except those at the bottom rungs. The CEO of India’s biggest airline, Ronojoy Dutta, will take 25% pay cut; senior VPs 20%; VPs and pilots 15% and AVPs along with cabin crew 10%.
In a mail to employees Thursday, Dutta said: “These are very difficult times indeed. I cannot think of another crisis that has engulfed the entire world with its speed and penetration into the lives of every single human being on this planet …. impact on aviation industry has been particularly severe. Governments across the globe have issued travel advisories which have resulted in a virtual shutdown of all our international flights. Domestic bookings too are down around 20% and it is not clear that the situation will not get worse before it gets better.”
“With the precipitous drop in revenues the very survival of the airline industry is now at stake.
