IndiGo gives 3pc bonus to crew after record profit

Indigo on Friday (May 19) announced that it will pay a bonus of 3 percent to its crew after its March quarter results, according to report. The company reported profit for the January-March quarter against a loss in the corresponding quarter in the year ago period.

The airline informed the cabin crew that a bonus amount equal to three percent of their FY23 salary will be paid along with may salary.

InterGlobe Aviation, which runs IndiGo, had stopped paying bonus since FY20 as the pandemic impacted the business.

InterGlobe Aviation Limited, which operates India’s largest airline IndiGo, on Thursday reported a record profit of ₹919.2 crore in the March quarter on the back of robust demand for air travel during the period.

In a post-earnings conference call, the airline’s management termed the last financial year as the year of recovery and growth.

The total income for the airline during the quarter rose by 78pc on year to ₹14,600 crore.

The low-cost carrier expects the total capacity in terms of available seat kilometers or passenger carrying capacity to increase by 5-7% in the June quarter of 2023-24 as compared to the March quarter of 2022-23.

For the financial year 2022-23, InterGlobe Aviation reported a net loss of ₹305.8 crore. The airline had reported a net loss of ₹6161.8 crore in the previous financial year which ended in March 2022.

As of 31 March 2023, the airline’s fleet stood at 304 aircraft including 21 A320 ceos (current engine option), 162 A320 neos (new engine option), 79 A321 NEOs, 39 ATRs, two A321 freighters and one Boeing 777 on wet lease arrangement. Overall, the airline was able to increase its fleet by two aircraft during the quarter.

On Friday, post the company announced it March quarter results. The company's scrip ended 0.03 per cent down at ₹2264.35 on BSE.

-B