US Airways CEO Turns Down Bonus | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 11.24.14 ** HD iPad-Friendly -- Airborne 11.24.14 **
** Airborne 11.21.14 ** HD iPad-Friendly -- Airborne 11.21.14 **
** Airborne 11.19.14 ** HD iPad-Friendly -- Airborne 11.19.14 **

Wed, Mar 15, 2006

US Airways CEO Turns Down Bonus

"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 plan.

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 years.

"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 year.

FMI: www.usairways.com

Advertisement

More News

ANN's Daily Aero-Linx (11.26.14)

FAA Aviation Safety Information Analysis And Sharing System (ASIAS) The Federal Aviation Administration (FAA) promotes the open exchange of safety information in order to continuou>[...]

ANN's Daily Aero-Term (11.26.14): Density Altitude

Pressure altitude corrected for nonstandard temperature. Density altitude is used in computing the performance of an aircraft and its engines.>[...]

Aero-News: Quote Of The Day (11.26.14)

“We hope to never see an event like this again, but, we must be prepared." Source: FAA Administrator Michael Huerta, on the release of the agency's 30 report on the fire at t>[...]

ANN FAQ: It's Alive! ANN REALTIME NewsBug Headlines for YOUR Desktop!

It's For Real! ANN REALTIME NewsBug Released To ANN Readers, Worldwide For those of you using a windows PC (MAC version in the works... we promise), a new REALTIME News Service fro>[...]

Helicopters Still Flying Tourists Over Hudson River

But Activists Continue To Call For A Ban On The Flights A group of activists in New York and New Jersey are still working to have sightseeing flights over New York City and the Hud>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC