Budget carrier SpiceJet on Tuesday announced hiking the salary for its captains to Rs 7.5 lakh per month for 75 hours of flying as well as introduced a tenure-linked loyalty reward for them.
Salaries of trainers and first officers have also been increased commensurately, according to a release.
"Salary of captains has been increased to Rs 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 airline had revised salaries for its pilots in November 2022 wherein the salary of captains was raised to Rs 7 lakh-a-month for 80 hours of flying.
A tenure-linked monthly loyalty reward for its captains of up to Rs 1,00,000 per month has also been announced. This amount will be over and above their monthly remuneration, the release said.
Details about the number of pilots at the airline could not be immediately ascertained.
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In recent times, there have been delay in payment of salaries at the airline, which is facing financial headwinds.
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.
"We have initiated the process of reviving our grounded planes with the USD 50 million funds received from the ECLGS scheme and internal cash accruals. We will soon be launching new flights on new and exciting routes," he said in a message on the 18th anniversary of the carrier.
"Thank you for being the heroes in what will be yet another come-back story," he said.
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