IndiGo on Thursday announced pay cuts of its employees due to coronavirus. Its CEO Ronojoy Dutta said that senior vice presidents and above were taking a 20% pay cut, while vice presidents and cockpit crew were taking a 15% pay cut. With precipitous drop in revenues, the very survival of airline industry is now at stake, Ronojoy said. He will himself take a 25% cut in salary. Loss-making Air India may also cut salary of employees by 5%, news agencies reported.