Indigo announces bonus to employees as airline expects full year profit in FY24

India's largest airline Indigo has announced bonus for its employees. This comes as the airline is expecting a full year profit in FY24. As per The Economic Times, the bonus paid will be equal to one and a half month salary of employees

Indigo bonus

Indigo reported profit in FY19 before covid hit the aviation industry. As per The Economic Times, the chief human resource officer of Indigo Sukhjit Pasricha in an email told the employees that the airline took 2 and a half years to recover from the losses incurred during Covid.

“The losses incurred during Covid had a very significant impact and washed away profits of the years before. We started our path to recovery in the 2nd half of the year 2022 and since then we demonstrated a solid and strong performance, “Sukhjit Pasricha, chief human resource officer of IndiGo, said in a mail to employees which was reviewed by The Economic Times.

Indigo has a structure in place for annual bonuses for different functions and roles and the payout is based on the actual operational and financial results of the company.

Indigo's Performance

Indigo has witnessed a surge in domestic passenger numbers due to faster turnaround of IndiGo than many other global airline majors.

The company’s shares have witnessed a strong rally in the past one year, rising over 93% against its 52-week low of ₹2,007.05 touched on April 28, 2023. The airline which holds 60% share of India’s domestic market became the world's third-largest airline in terms of market capitalisation.

Also watch: Indigo plans to introduce premium class to attract business flyers: Report