Coronavirus sees India's biggest airline cut employee pay: internal memo [Reuters]
SINGAPORE AIRLNS UNSP/ADR (SINGY)
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Source: Reuters
Coronavirus sees India's biggest airline cut employee pay: internal memo NEW DELHI (Reuters) - India’s biggest airline IndiGo has cut the salaries of most employees by between 5% and 20% in response to the coronavirus outbreak, which has paralyzed air travel and dented its revenues, an internal memo seen by Reuters said. In the letter to its employees, IndiGo ( INGL.NS ) CEO Ronojoy Dutta said the virus’ impact on the aviation sector has been particularly severe and the company must reduce costs in line with the fall in revenues. “With the precipitous drop in revenues, the very survival of the airline industry is now at stake. We have to pay careful attention to our cash flow so that we do not run out of cash,” Dutta said. He said he would take a 25% pay cut from April 1. IndiGo did not immediately respond to an email seeking comment. The coronavirus has infected more than 218,900 people and caused some 8,900 deaths across the world, triggering emergency lockdowns and injections of
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