By Ragini Saxena
Go Airlines India Ltd plans to raise salaries of captains by Rs 1 lakh ($1,211) a month and by Rs 50,000 for first officers as it tries to salvage its operations after filing for insolvency on May 2.
The additional pay, which the airline calls a retention allowance, will come into effect on June 1, according to an email to pilots seen by Bloomberg News. It will also be offered to those who have left the company but are willing to withdraw their resignations by June 15. The airline, which rebranded as Go First two years ago, said it will also soon reintroduce a “longevity bonus” for long-serving staff.
Go’s captains currently earn about Rs 5.30 lakh a month on average, according to data on AmbitionBox, compared with Rs 7.50 lakh at SpiceJet Ltd, which has increased wages twice in recent months.
Last week, India’s aviation regulator gave Go Air 30 days to submit a revival plan, including details on how many pilots it has.
“If things shape up as per the present progress plan, it won’t take long before we will be flying again which will also enable us to be regular on salary payments,” the airline said in the email to pilots.
A representative for the company didn’t respond to request for a comment.
Aviation is facing a shortage of staff globally as the world emerges from the pandemic. India’s biggest carrier IndiGo aims to hire 5,000 workers in fiscal 2024, while Air India Ltd plans to add more than 4,200 cabin crew and 900 pilots this year.