CEO Ronojoy Dutta in a mail written to its employees said that he will take a pay cut of 25%, senior Vice-presidents and above will take a pay cut of 20% and All the changes in salaries will come into effect from April 1, 2020.
IndiGo CEO said in the mail that, “with a great deal of reluctance and a deep sense of regret we are therefore instituting pay cuts for all employees excluding Bands A & B, starting April 1, 2020. I am personally taking a 25% pay cut, SVPs & above are taking 20%, VPs & cockpit crew are taking a 15% pay cut, AVPs, Bands D along with cabin crew will take 10% and Band Cs 5%.”
Source: Media reports
Interglobe Aviation Ltd is currently trading at Rs922.60, down by Rs29.65 or 3.11% from its previous closing of Rs952.25 on the BSE. The scrip opened at Rs910 and has touched a high and low of Rs985 and Rs888 respectively.