IndiGo gives 45-day bonus to employees amid significant profits
It is yet to announce its fourth-quarter results. According to Elara Capital, the airline is expected to post an adjusted profit of Rs 2,060 crore in the fourth quarter of 2023-24
 "IndiGo gives 45-day bonus to employees amid significant profits")
Country’s largest airline IndiGo on Thursday announced a one-time bonus equivalent to 45-day basic salary to all its employees, citing solid performance since the latter half of 2022 and achieving “net worth positive” status in February.
“We are pleased to announce a one-time special bonus to reward each colleague. This Thank You Bonus shall amount to 1.5 months’ basic salary. This amount will be disbursed along with May, 2024, salary as an ex-gratia,” IndiGo said in a message to its employees.
In the first quarter of 2023-24, the airline posted its highest-ever consolidated net profit of Rs 3,090.6 crore. Its consolidated net profit in the second and third quarters stood at Rs 188.1 crore and Rs 2,998.1 crore.
“We are pleased to announce a one-time special bonus to reward each colleague. This Thank You Bonus shall amount to 1.5 months’ basic salary. This amount will be disbursed along with May, 2024, salary as an ex-gratia,” IndiGo said in a message to its employees.
In the first quarter of 2023-24, the airline posted its highest-ever consolidated net profit of Rs 3,090.6 crore. Its consolidated net profit in the second and third quarters stood at Rs 188.1 crore and Rs 2,998.1 crore.
It is yet to announce its fourth quarter results.
According to Elara Capital, the airline is expected to post an adjusted profit of Rs 2,060 crore in the fourth quarter of 2023-24.
In the message to employees, the airline said, “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 second half of the year 2022 and since then we demonstrated a solid and strong performance. Based on this performance, when we published our Q3 results in February 2024, we moved our company back into a net worth positive company. An incredibly important milestone.”
“From here we can start further building our future and obviously the recent momentous wide-body fleet announcement is a further testament to both our belief and commitment towards the future of IndiGo,” it added.
On April 25, in its quest to become a global aviation player, IndiGo forged an agreement with Airbus to procure 30 A350-900 aircraft.
Additionally, the airline holds the option to order an additional 70 A350 family planes. This is the first time that IndiGo is procuring wide-body aircraft, which can operate long-haul and ultra long-haul flights. Its current fleet of approximately 370 planes comprises narrow-body planes.