Air India announces annual salary hikes for employees, performance bonus for pilots

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PTI report.On Thursday, “Air India CHRO Ravindra Kumar GP announced salary increments for employees, with effect from April 1, 2024, as well as performance bonus payouts for FY 2023-24 based on company and individual performance," PTI said citing sources.ALSO READ: Passengers recall harrowing moments of Air India Express flight catching fireThe airline is in the process of revamping itself under a five-year transformation plan, announced In late 2022.Since the Tata Group took over the loss-making airline over two years ago, this is the first appraisal process for Air India staff.It is providing competitive salary increments to attract and retain talent as part of larger efforts to have a performance-driven and meritocratic culture among the employees, said the report.The annual appraisals, based on the new Performance Management System (Rise.AI), have been given to all employees, who joined before December 31, 2023, including ground staff, cabin crew and pilots.The airline has around 18,000 employees. ALSO READ: Vistara warns of traffic congestion in Varanasi as Modi to file nomination today“CHRO Kumar said that in the last financial year, the airline achieved key milestones of laying strong foundations for growth and transformation," as per the PTI report.

As part of the Vihaan.AI journey, Air India introduced the contemporary annual performance appraisal process Rise. AI and also transitioned to a simplified, market-competitive and productivity-oriented compensation structure for employees, he said.In 2023, only compensation and contract restructuring for legacy employees were done.In addition to the rise in fixed pay for fiscal year 2023-24, the airline has introduced a component of annual target performance bonus for