SpiceJet goes for a 10% pay hike after 3 years

Low-fare carrier SpiceJet has recently increased salaries of pilots and crew after three years, two people in the know said, a move which may give investors hope that all is not bad with the loss-making carrier.

The salaries have been increased by about 10 per cent, one of the people said, and came into effect in July. "SpiceJet in the last few years had gone below the market index in terms of salaries to pilots. This will bring it on par with its peers," said the person. Also, recently, the airline's chief operating officer Sanjiv Kapoor wrote to its employees assuring them their several tax filing forms will be given to them soon. Employees haven't got these forms for a year, which had led to doubts that the airline wasn't paying its taxes. Salaries, however, haven't been delayed.

Read the Economic Times news report here.