The average salary at IndiGo increased by 4.42 per cent year-on-year in 2023-24, lower than the 10.5 per cent year-on-year increase recorded in 2022-23, according to the airline’s annual reports.
Airline sources said the growth was higher in 2022-23 because the airline was normalising remuneration of employees who had suffered pay cuts during the peak of the COVID-19 pandemic. They added that the average salary hike in 2023-24, at 4.42 per cent, was closer to aviation industry standards. IndiGo did not respond to Business Standard’s queries on this matter.
In 2023-24, IndiGo carried 106.7 million passengers, a year-on-year growth of 24.7 per cent. Consequently, its annual consolidated net profit reached a record Rs 8,157 crore in 2023-24, a significant turnaround from a consolidated net loss of Rs 2,980 crore in 2022-23.
The airline’s recent annual report also mentioned that the number of permanent employees increased by 13.7 per cent year-on-year to 36,860 in 2023-24. In 2022-23, the number of permanent employees saw a notable increase of 23.9 per cent year-on-year to 32,407.
IndiGo Salaries and Workforce Over the Years
Source: IndiGo Annual Reports
First published: August 18, 2024 | 6:00 pm IS
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