In 2016, IndiGo’s President and whole-time Director Aditya Ghosh took home Rs 27 crore in salary, including Rs 20.9 crore in one-time incentive.
IndiGo was also generous in rewarding its 12,000-plus employees with an average 42 per cent rise in remunerations in FY16.
In 2018, a time has come when IndiGo co-founder and interim CEO Rahul Bhatia has to urge its employees to help reduce costs further.
This situation is after the parent Inter Globe reported the first-ever quarterly loss at Rs 652.1 crore in September following its listing in November 2015.
Besides seasonal factors higher costs and intense competition took a toll.
CEO Rahul Bhatia in an e-mail to the employees expressed "disappointment" at the financial performance, and mentioned that the Indian aviation industry is facing significant economic pressures from two elements which are beyond our control - fuel prices that have increased by more than 40 per cent year-on-year and depreciation of the rupee. He had to finally admit that this year has been unusually different.
