ride out the storm for now cautiously.”
IndiGo’s hirings did not affect its financial results, indicating that the airline is not paying exorbitant salaries. During the 2012-13 fiscal, while the airline managed to increase its net profit by nearly six times to R787 crore, SpiceJet registered a loss of R191 crore and Jet Airways had a loss of R485 crore.
Staff costs for IndiGo accounted for 8% of its total expenses of R8,465 crore during FY13. In comparison, staff costs for Jet Airways in FY13 was 9.1% of its total expenses of R16,876 crore while for SpiceJet it was 8.9% of its total expenses of R5,880 crore.