On its 18th anniversary, SpiceJet announced that it will increase the salary of its captains to ?7.5 lakhs per month for flying 75 hours. This salary hike will be effective from May 16, 2023. Additionally, a tenure-linked monthly loyalty reward program has been introduced for captains, which can amount to up to ?1, 00,000 per month, in addition to their regular remuneration.
Trainers and first officers will also see an increase in their salaries proportionate to the hike given to the captains. It is worth noting that in November 2022, SpiceJet had already revised the salaries of its pilots, raising the captains’ salary to ?7 lakhs per month for 80 hours of flying.
SpiceJet has been addressing concerns from its employees regarding salary delays. In an effort to reduce liabilities and improve efficiency, the airline’s chairman and managing director, Ajay Singh, mentioned that a restructuring exercise is underway as part of their overall growth strategy.
In celebration of its anniversary, SpiceJet also announced cheaper airfares, with one-way domestic fares starting at ?1,818. This special sale is applicable to routes such as Bengaluru-Goa and Mumbai-Goa. The promotional offer by SpiceJet is available for passengers from May 23 to May 28. Flights can be booked under this special offer starting from July 1, 2023, until March 30, 2024.
It should be noted that alongside these announcements, SpiceJet’s share price reached a 52-week low, experiencing a decline of over 19% on the Bombay Stock Exchange (BSE).
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