SpiceJet, the country’s budget carrier, has reportedly decided to offer stock options to employees to reward them for helping revive the airline from the brink of closure around two years back. The airline has about 6,400 employees and a 13% domestic market share. The airline’s board has cleared the mandate and the next step on ESOPs (employee stock ownership plan) is to be taken at its annual general meeting in the last week of December 2016.
SpiceJet was among the first private companies that stepped into the Indian aviation sector. The airline was launched with an objective to deliver the lowest air fares with the highest consumer value, to price sensitive consumers.
