Wed, Mar 15, 2006
"It Was The Right Thing To Do"
It's the kind of news
you really don't expect to hear from of the airlines
anymore -- but Aero-News has learned that W. Douglas Parker,
CEO of US Airways, turned down a $770,000 bonus he was entitled to
under terms of his contract as the former head of America West.
USA Today reports Parker said he could not accept the incentive,
as US Airways has not yet turned a profit -- meaning employees
haven't received anything yet from an employee profit-sharing
Parker -- who became chairman, president and CEO of the combined
US Airways after America West merged with US Airways last year --
earned the bonus while heading America West.
While US Airways employee unions applauded Parker's decision,
they also lamented the CEO's altruism wasn't shared by most of the
airline's other managers -- who accepted their bonuses, thus
continuing a trend unions have criticized at US Airways for
"It shows a step in the right direction in terms of at least one
management person sharing some of the pain that the US Airways
Group employees have gone through over the past few years," said
Mike Flores, president of the Master Executive Council for the
Association of Flight Attendants for US Airways.
Flores added Parker personally told him he had refused the bonus
because "it was the right thing to do."
"I think it definitely is the right thing to do," Flores said.
"I don't think any management should be taking any bonus or any
incentive until this company makes a profit, and that goes from Mr.
Parker all the way down to the lowest person in management."
As Aero-News reported last
month, US Airways posted a $261 million loss in the
fourth quarter of 2005. In announcing the loss, however, Parker
said he was confident the airline would be profitable this
Ugly To Many, But Incredibly Beautiful To Hard-Core Helo Fans ANN CEO and Editor-in-Chief, Jim Campbell visited the Cold War Air Museum's Mi-24 Russian helicopter at HAI a little o>[...]
Also: Big Boeing Order, Napa Tower Quaked, Landsberg Retires, Galileo Falters Breaking News! Google has unveiled an exciting new UAV project, called Project Wing, which has been un>[...]
“We are delighted that construction of a world-class aerospace assembly facility is underway in Lafayette and that skilled Louisiana workers will be producing the standard-be>[...]
YOU Can Contribute To The Annual List Compiled By The Staff and Readership of the ANN and Aero-TV! E-I-C Note: We're going to start naming names and dropping details THIS week--- t>[...]
Klyde Drones On... and On... FMI: www.klydemorris.com>[...]