MUMBAI- In August alone, a minimum of 19 pilots quit Akasa Air (QP) without completing their notice period, and it’s reported that more resignations are in progress, driven by attractive job offers from Air India Express (IX).
This occurrence coincides with Akasa Air celebrating its one-year anniversary and the induction of its 20th aircraft.
Akasa Air Pilots Resignations and Salary Hikes
Recognizing the escalating demand for Boeing 737 captains within the nation, Akasa Air has undertaken its second salary increment for pilots in two months.
The recent revision entails a combination of a monthly loyalty reward of ₹100,000 and a substantial long-term incentive of ₹25,00000, reflecting the ongoing wave of pilot resignations, reports Hindu BusinessLine.
Ritu Sinha, the airline’s head of human resources, in a staff email, stated,
“This achievement goes far beyond the mere count of aircraft. It signifies our shared vision, determination, and ability to surmount challenges and difficulties. Since our operations began, in the midst of evolving market dynamics, you’ve demonstrated resilience and adaptability that have played a pivotal role in our accomplishments.”
Starting in August, the pilots will receive the monthly loyalty reward, which will be an addition to 40 hours of base pay. Additionally, the long-term incentive of ₹25,00000 will be disbursed in three stages (15%, 25%, and 60%) spanning from August 2024 to 2026.
In June, Akasa Air augmented pilot salaries by 40%. In conjunction with the salary increment, the airline also revised allowances and promotion criteria and initiated the provision of pilot bases in Mumbai and Delhi.
Despite these modifications, the airline experienced the departure of nineteen pilots in the current month.
CEO Insights
Earlier this month, Vinay Dube, the co-founder and CEO of Akasa Air, stated in an interview with businessline that the departure of pilots will not result in immediate disruptions to the airline’s operations.
“We have a comprehensive 10-year plan that encompasses pilot recruitment, training, and career progression. The resignations will not have a lasting effect, and our confidence in the future remains unwavering. We are strategic planners and prepare for unforeseen circumstances. Our track record speaks for itself – we maintain the lowest cancellation rate and exceptional on-time performance.”
Vinay Dube, the co-founder, and CEO of Akasa Air
Future Updates
Akasa Air is considering the expansion of its network into the states of Karnataka, Maharashtra, Goa, and Kerala, according to sources familiar with the airline’s strategy told Moneycontrol.
It is anticipated that Akasa Air could capitalize on certain advantageous time slots in these regions. As Go First (G8) might potentially release them, even if Go First recommences operations later.
After taking the 20th aircraft, the airline is now eligible to start international operations.
Akasa has announced its intention to increase its fleet to 28 aircraft by March 2024. Further, the airline will have around 48 737 MAX on Orders at that time.
However, the CEO has said they will likely place larger, three-digit orders in 2023. The order is possibly placed during the Dubai Air Show in November 2023. More Updates are likely to follow in the coming days.
Feature Image: Siddh Dhuri (@mumbaiplanes) • Instagram photos and videos
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