Singapore Airlines to investment Rs 3,194.5 crore in Air India post-merger of Vistara
Singapore Airlines is set to make an additional investment of Rs 3,194.5 crore in Tata Group-owned Air India post-merger of Vistara in November.
For the first time after its takeover by the Tata Group in 2022, Air India on Thursday announced a salary hike for its staff who joined the airline before December 31, 2023.
The airline has around 18,000 employees, including ground staff, cabin crew, and pilots.
“During FY 2023-2024, as a part of the take-off phase of Vihaan, Air India achieved key milestones, laying strong foundations for growth and transformation… To enable our journey, we introduced two key changes in our human resource practice in the past one year.
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“We launched a contemporary annual performance appraisal process, Rise, and transitioned to a simplified, market-competitive, and productivity-oriented compensation structure for the employees,” read a letter by the chief human resource officer (CHRO), Ravindra Kumar G.P.
“Our appraisal process and compensation planning for the last fiscal year has been concluded. We are pleased to announce the annual salary increment with effect from April 1, 2024, and performance bonus for FY 2023-24 based on company and individual performance,” it added.
According to a letter accessed by IANS, pilots will get a salary hike of Rs 5,000 to Rs 15,000 per month and a bonus ranging from Rs 42,000 to Rs 1.8 lakh per annum for junior first officers to senior commanders.
Additionally, compensation will be provided to pilots who have faced inordinate delays in their ground and simulator training.
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