For the first time since being taken over by the Tata Group in January 2022, Air India staff will get their annual salary increments and an annual target performance bonus for pilots.
All About Air India’s proposed Salary Hike
1 – The monthly hike for pilots would vary from Rs 5,000 to Rs 15,000, a report by PTI quoted sources as saying.
2 – The hike for pilots will depend on their experience and position.
3 – As per the salary revision, the monthly fixed pay of first officers and captains will increase by Rs 5,000 each.
4 – For commanders and senior commanders, the monthly hike will be Rs 11,000 and Rs 15,000, respectively. However, there will be no hike in the monthly fixed pay for junior first officers.
5 – The annual target performance bonus for pilots can be up to Rs 1.80 lakh and will be paid based on the company’s and the individual’s performance.
6 – A junior first officer will get an annual bonus of Rs 42,000 whereas first officers and commanders will get Rs 60,000 per annum.
7 – For commanders, the annual bonus will be Rs 1.32 lakh and Rs 1.80 lakh for senior commanders.
8 – Salary increments for Air India employees will be effective from April 1, 2024. The bonus payouts for FY 2023-24 will be based on the company and individual’s performance.
9 – The airline has also introduced a component of annual target performance bonus for its pilots based on the company’s and individual’s performance, which will be applicable from FY 2024-25.
Last year, Air India had just restructured contracts and compensated legacy employees. The airline has around 18,000 employees.
Why Is Air India Suddenly Giving Increments
The report quoted sources as saying that Air India, which is in the process of revamping itself under a five-year transformation plan, is providing competitive salary increments to attract and retain talent as part of its larger plan to have a performance-driven and meritocratic culture among the employees.
The airline has rolled out annual appraisals for all employees, who joined before December 31, 2023, including ground staff, cabin crew and pilots. The appraisals are based on the new Performance Management System (Rise.AI).
The Air India group now has four airlines — Air India, Air India Express, AIX Connect (formerly AirAsia India) and Vistara. Air India Express is merging AIX Connect with itself, and Vistara will be merging with Air India.
With inputs from PTI
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