Air India expat COO earns up to Rs 3.26 cr a year

New Delhi: Loss-making state-owned carrier Air India’s expat Chief Operating Officer Gustav Baldauf gets paid almost double the salary drawn by those on the board, barring the five independent directors. Baldauf, who joined the airline in June 2010, is entitled to an annual compensation of up to euro 5 million or Rs 3.26 crore according to information tabled by civil aviation minister Praful Patel in Parliament today. He was appointed on a contract-basis for three years, extendable by two years.
Six functional directors on Air India’s board are paid between Rs 1.3 lakh and Rs 2 lakh per month each and the airline’s CMD Arvind Jadhav is paid up to Rs 1.5 lakh, and two government nominees are paid a total of up to Rs 1.6 lakh. This brings the monthly pay of board members, barring independent directors, to around Rs 15 lakh, almost half the salary package of airline’s COO.
Of the total package, euro 3.48 million or Rs 2 crore is the fixed component that includes house rent allowance and other perks; and the rest (euro 2 million or Rs 1.19 crore) is performance-linked pay.
01/12/10 Indian Express

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Categories: Air India Dec 2010