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Coronavirus impact | IndiGo cuts salaries, CEO Ronojoy Dutta to take home 25% lesser pay

"With a great deal of reluctance and a deep sense of regret we are, therefore, instituting pay cuts for all employees excluding bands A and B, starting April 1," the airline said in a letter.

March 19, 2020 / 05:55 PM IST

Due to the 'precipitous drop in revenues' domestic airline IndiGo has announced that it will cut employee salaries, including that of the CEO Ronojoy, by up to 25 percent starting April 1, 2020, the airline's CEO told employees in a mail.

Moneycontrol has seen a copy of the mail sent on March 19.

In the mail, Dutta said, "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."

This, he added, means that there is a need to reduce costs in line with the drop in revenues.