In an apparent bid to thwart other airlines from poaching on its employees, private carrier Air Sahara on Tuesday announced its new human resources policy offering a 40 per cent salary hike to employees.

The four-point new human resources policy, announced by Air Sahara's new head Seemanto Roy, offers employees benefits and a growth plan, a new employee retainership policy and an average salary hike of 40 per cent, an Air Sahara statement issued in Kolkata said.

The airlines also said the new policy would result in an additional cost of Rs 5 crore (Rs 50 million) per month for the airlines and that it was in tune with the 'collective materialism' policy of Sahara Group chief Subrata Roy.

Roy, son of Subrata Roy, recently took over the reins of Air Sahara.

The new policy has come at a time when Air Sahara is undergoing major restructuring following the new aviation policy of the Centre under which private airlines have been allowed to fly to foreign destinations.

The changed scenario has also led to stiff competition in the market with the emergence of a number of new airlines, including the low-cost airlines, which has led to poaching of experienced manpower by the new entrants.