Budget airline SpiceJet Ltd may soon offer stock options to employees to reward them for helping revive the airline from the brink of closure around two years back. “We are working on ESOPs (employee stock ownership plan),” SpiceJet chairman Ajay Singh said in an interview, adding that the broad contours of the policy are being worked out. SpiceJet has about 6,400 employees and a 13% domestic market share.
SpiceJet’s board has cleared the mandate. The next step is to be taken at the firm’s annual general meeting in the last week of December, said a person familiar with the matter who declined to be named. ESOPs are likely to be for all employees and the key “loyalty” and “retention” will drive the grant, this person said. The process could be completed in the next 2-3 months.
Read more: SpiceJet plans to give ESOPs as reward for reviving airline – Livemint