Business

SpiceJet Increases Salaries for Pilots, to pay ₹7.5 lakh per month

SpiceJet, which celebrated 18 years in the aviation industry on Tuesday, announced that they had increased the monthly pay for their captains to 7.5 lakhs for logging 75 hours of flight time. A tenure-linked loyalty reward for captains has also been introduced. SpiceJet also disclosed that first officers and trainers will receive salary increases in line with those changes.

“Salary of captains has been increased to ₹7.5 lakh-a-month for 75 hours of flying. The hike will be applicable from May 16, 2023,” said the airline. The loyalty reward scheme was also covered in detail in the announcement. The release announced a tenure-linked, up to $1,000,000 monthly loyalty reward for its captains. The release stated that this sum will be in addition to their monthly compensation.

Notably, in November 2022, the airline revised the pay for its pilots, raising the salary of captains to Rs. 7 lakhs per month for 80 hours of flying. SpiceJet has been dealing with opposition from its staff over a salary delay.

SpiceJet Chairman and Managing Director Ajay Singh informed staff earlier in the day that a restructuring exercise is underway to further reduce the airline’s liabilities as part of the airline’s overall growth strategy. This will enable the airline to pursue its growth targets with efficiency and focus.

In addition, SpiceJet revealed lower airfares in celebration of its 18th birthday. The domestic low-cost airlines have announced that their first flight’s ticket price is 1,818.

The airline with its headquarters in Gurugram has announced a special offer for domestic one-way fares starting at just 1,818. The promotion is available on routes such as Mumabi-Goa and Bengaluru-Goa. From May 23 to May 28, passengers can take advantage of the sale. Flying under the offer is possible from 1 July to 30 March 2024 for passengers.

Along with these developments, Spicejet’s stock price also dropped to a new 52-week low. On the BSE, the stock fell by just over 19%.

Malika Sahni

Recent Posts

Supreme Court Allows Yasin Malik To Cross-Examine Witnesses Via Video From Tihar Jail

The SC allowed Yasin Malik to cross-examine prosecution witnesses via video conferencing from Tihar jail,…

17 seconds ago

Delhi HC Orders Customs To Stop Seizing Personal Jewellery Of Air Passengers

The Delhi HC has directed Customs Department officials not to confiscate old or personal jewellery…

5 mins ago

PM Modi Unveils 21-Point Action Plan To Boost BIMSTEC Cooperation At Bangkok Summit

Prime Minister Narendra Modi on Friday unveiled a 21-point action plan at the BIMSTEC Summit…

2 hours ago

Buddhism In India’s Foreign Policy: PM Modi’s Vision For Global Harmony

PM Modi has been at the forefront of strengthening India’s ties with Buddhist nations, putting…

2 hours ago

6 Surprising Benefits Of Turmeric Milk For Your Health

Turmeric milk, often referred to as 'golden milk', has been a staple in traditional medicine.…

2 hours ago

PM Narendra Modi Meets Bangladesh’s Muhammad Yunus During BIMSTEC Summit In Bangkok

PM Narendra Modi met Bangladesh's Chief Adviser Muhammad Yunus in Bangkok, their first meeting since…

3 hours ago