Goa, May 8 -- Air India has decided to defer annual employee increments by at least one quarter as the airline faces mounting financial pressure amid a challenging global economic environment. The announcement was made during a meeting addressed by CEO Campbell Wilson, Chief Human Resources Officer Ravindra Kumar GP, and Chief Finance Officer Sanjay Sharma.

Wilson clarified that while annual increments would be delayed, the airline does not currently plan any layoffs. He assured employees that performance-related variable pay for the previous year would still be paid. According to Wilson, the company has budgeted for salary increments and may reconsider them later depending on how the economic situation evolves.

The airline cited severa...