New Delhi, September 22
SpiceJet has announced around 20 per cent hike in salaries for pilots from October onwards, sources told ANI.
This upward salary revision follows a six per cent hike announced last month.
"Keeping with our commitment of increasing salaries in a calibrated manner as our business improves, the salary for the month of October will see an increase of around 20 per cent for our captains and senior first officers," SpiceJet Flight Operations SVP Captain Gurcharan Arora said.
The move on salary revision comes days after the airline decided to place certain pilots on leave without pay (LWP) for a period of three months as a temporary measure to rationalise cost.
On Tuesday, SpiceJet said the measure, which is in line with the company's policy of not retrenching any employee, will help rationalise the pilot strength vis-a-vis the aircraft fleet.
Even after placing certain pilots on leave without pay, SpiceJet said it will have a sufficient number of pilots to operate its full schedule as and when the DGCA restriction on flights is lifted.
The Directorate General of Civil Aviation (DGCA) on Wednesday extended the 50 per cent restriction on SpiceJet flights till October 29.
Moreover, sources said the airline will deposit TDS of all employees in the next two-three weeks. A significant portion of provident funds will also be credited.
The sources said the first tranche of Emergency Credit Line Guarantee Scheme (ECLGS) payment has been received and the second tranche is expected soon.
SVP Arora told the pilots that the management was looking to raise USD 200 million in addition to the ECLGS from the government.
In early September, sources in the airline said it will receive around Rs 225 crore as part of the ECLGS scheme. Spicejet will likely use this money to clear statutory dues and other payments to lessors.
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