GURUGRAM- Pieter Ea, the CEO of IndiGo AirlinesPieter Elbers, the CEO of India’s largest airline, IndiGo Airlines (6E), has been in charge for more than two years and is implementing some impressive changes.
Let’s examine Pieter Elbers’s background and other information before learning the precise amount of money he receives from IndiGo Airlines.2025 Lbers Salary
Who is Pieter Elbers?
Born in Schiedam, South Holland, Pieter Elbers completed his primary education at De Singel Primo Schiedam.
He graduated from Fontys University of Applied Sciences in Venlo with a bachelor’s degree in logistics management. He then went on to the Open University of the Netherlands to get his master’s degree in business administration. He also studied overseas in Beijing and New York City.
Pieter Elbers started working for KLM Royal Dutch Airlines (KL) in 1992 and has been in the aviation industry for more than thirty years. His rise through the levels of the organization began with his first position as supervisor of aircraft loading at Schiphol hub.
The executive’s six-year stay in a variety of overseas marketplaces solidified his international experience. Elbers developed vital market knowledge while working as a general and sales manager in key areas like Greece, Italy, and Japan. He was promoted to Senior Vice President of Network & Alliances after returning to the Netherlands.
Elbers’ strategic ability was evident in his crucial role in KLM’s assimilation into the SkyTeam airline alliance. He was appointed to the executive committee of the Air France-KLM Group in recognition of his leadership skills. His board memberships at Marfo B.V. and the Confederation of Netherlands Industry and Employers demonstrated his impact outside of the aviation industry.
In October 2014, Elbers replaced Camiel Eurlings as President and CEO of KLM. Significant events occurred during his tenure, such as the Dutch government purchasing a 14% share in 2019 to protect national interests. KLM confirmed in early 2022 that Elbers would not seek a third term and that his resignation was scheduled for May 2023.
When the largest airline in India, IndiGo, named the aviation executive CEO in June 2022, his career took a new turn. Elbers assumed leadership of IndiGo on September 6, 2022, replacing retiring CEO Ronojoy Dutta, marking a significant shift in his career from European to Asian aviation markets.
Pieters Elbers Compensation at KLM
In 2022, Pieter Elbers, the former CEO of KLM, was given a compensation package worth 1.4 million euros, or more than 12 crore Indian rupees. According to KLM’s annual report, the deal includes a transition payment of 894,214 euros and 480,543 euros in compensation for nine months of service.
According to the revelation first reported by De Telegraaf, the airline had to pay an extra 619,100 euros in taxes on the severance payment.
Elbers’ right to the pre-pandemic deferred incentives and severance money was upheld by a court decision in October 2022. Together, KLM and Elbers asked the court to clarify whether payments were allowed under the state aid limitations.
The court found that Elbers’ transition payment did not contravene the government’s requirements for state assistance relating to the pandemic, which forbade bonus payments during the airline’s period of public assistance.
Elbers’ job contract was terminated in early 2022 after “proper consultation” with KLM’s Supervisory Board.
IndiGo Airlines CEO Salary
Pieter Elbers took over as CEO of IndiGo Airlines in June 2022, following his departure from KLM.
Pieter Elbers received 67,150 performance stock units (PSUs) worth 12.52 crore INR (1.42 million Euro) in March 2023, which was similar to his KLM compensation package.
These PSUs come in addition to his annual income. The actual statistics have not been published, but they could be about 5 crore INR (500K Euros). So the total pay package, including salary, Performance Stocks Unit, and other bonuses, could be close to 17 crore INR (near to 2 million euros).
IndiGo Airlines is expected to earn more than $2 million in total remuneration in 2025, and if the FY24-25 results are more successful, he will likely receive further PSUs.
IndiGo Financial Results Since 2022
The following are brief data on the financial performance of InterGlobe Aviation, IndiGo Airlines’ parent company, since Pieter Elbers joined the airline:
IndiGo Airlines Financials for 2022-23
IndiGo Airlines’ revenue from operations increased by 110% to 544,465 million rupees in FY2023, indicating a good financial comeback from the previous year. The airline’s EBITDAR margin rose dramatically, rising 18.3 percentage points to 13.4% in FY2023.
Despite significant revenue increase, the airline reported a loss after tax of 3,058 million rupees, which is an improvement from past years. The company’s cash reserves increased by 28.5% to 234,243 million rupees, suggesting strong liquidity management.
IndiGo Airlines Financials for 2023-24
- ₹689,043 million: Revenue from operations (26.6% growth)
- ₹175,447 million: EBITDAR (140% growth)
- ₹81,725 million: Profit after tax
- ₹212: Earnings per share
