Last Updated: September 22, 2022, 12:49 IST
Private budget carrier SpiceJet has announced a 20 per cent salary hike for pilots from October. This salary revision follows a 6 per cent hike announced last month. Sources told CNBC TV-18, the first tranche of the Emergency Credit Line Guarantee Scheme (ECLGS) payment has been received by the airline, and the second is expected shortly.
According to an internal mail to all the pilots, senior VP, Gurcharan Arora said that Spicejet has received the approval for a loan under the government’s ECLGS scheme. “The first tranche of the payment has already been received and the second tranche is expected very soon. Our management is working to raise an additional 200 million dollars.”
Moreover, the company will be depositing the TDS of all employees in the next two-three weeks. And, a significant portion of the PF will also be credited.