The aviation sector is probably the most affected due to the coronavirus outbreak.
However, the industry's top leadership has taken the lead when it comes to saving costs.
While nearly all airlines have announced a pay cut, the CEOs are the ones who have taken the biggest cut.
IndiGo was among the first to announce a pay cut for its personnel on March 19. CEO Ronojoy Dutta took the highest cut of 25 percent.
The 2018-19 annual report of the country's largest airline doesn't include Dutta's remuneration as he had taken charge in January 2019.
One could get an idea by looking at the remuneration details of Aditya Ghosh, who was IndiGo President until April 2018.
Ghosh was the senior-most executive in the company. He drew a salary of Rs 5.3 crore for the financial year 2017-2018. Besides, he also had stock options worth Rs 16.3 crore.
Co-founder Rahul Bhatia was the interim CEO of the airline from April 27 2018, to January 23, 2019. Bhatia's remuneration included sitting fee of Rs 12 lakh, and a dividend of Rs 6 lakh.
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His wife, Rohini Bhatia, a Director on the IndiGo Board, took home a dividend of Rs 33.8 crore in the last financial year.
GoAir was the second airline to announce a pay cut. Vinay Dube, its CEO, led by volunteering to halve his pay. Little is known about Dube's remuneration as GoAir is not a listed entity. At Jet Airways, where Dube was the CEO, he drew a total remuneration of a little over Rs 10 crore in 2017-18. These included benefits of Rs 2.24 crore.
SpiceJet, on March 31, announced that its employees will take a cut of up to 30 percent. Chairman Ajay Singh opted for the highest 30 percent trim in his compensation.
In 2017-18, as per the company's annual report, Singh took home a salary of about Rs 13.2 crore, lower than the Rs 14.7 crore he got the year before.
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