As SpiceJet turned 18 on Tuesday (May 23, 2023), the low-cost airline gave a return gift to its captains/pilots by announcing a raise in their salary structure and reducing the monthly flying hours’ requirement.
The Gurgaon-based airline has hiked its Captains’ monthly remuneration to Rs 7.5 lakh for 75 hours of flying.
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Making the announcement on its 18th anniversary, the no-frills carrier SpiceJet said that the hike will be applicable from May 16, 2023.
Meanwhile, the salaries of Trainers (DE, TRI) and First Officers have also been increased.
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Besides, SpiceJet has also introduced tenure-linked monthly loyalty rewards for Captains of up to Rs 1 lakh/month over and above their monthly remuneration.
Earlier in the day, SpiceJet Chairman Ajay Singh told the employees that the budget carrier has also initiated the process of reviving its grounded planes with the USD 50 million funds received from the ECLGS scheme and from its internal cash accruals, as per Economic Times report.
Singh told employees in a letter that the carrier will also soon launch new flights on new and exciting routes.
The Chairman also urged the employees to remain committed to maintaining the highest standards of services as it looks forward to more exciting years ahead.
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“There is large investor interest in our logistics business. Leading UK-based international conglomerate SRAM and MRAM Group have already committed a USD 100 million investment in SpiceXpress. Both SpiceJet and SpiceXpress have great potential and will complement each other well,” Singh told employees, as quoted by Economic Times.
The airline is facing financial headwinds and has undertaken a “restructuring exercise” to further reduce the liabilities.
On May 11, SpiceJet said it has no plans to file for insolvency proceedings and has also started the process of reviving its grounded fleet with USD 50 million.
