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
Also: GE Honda, Sagem's Active SideStick, Syberjet Update, Techno Aerospace Knows How to Party The FAA handed over certification papers for Embraer's Legacy 500 executive jet durin>[...]
Homebuilt Homepage: Clubs And Newsletters This page lists Homebuilt related Clubs and Newsletters.>[...]
Phase separation is when a combined liquid separates into two different liquids and may occur when autogas is used for aviation fuel.>[...]
“I’m excited and humbled by the trust that the ALPA Board of Directors has placed in me with this election.” Source: ALPA President-Elect Tim Canoll.>[...]
A Few Questions AND Answers To Help You Get MORE Out of ANN!>[...]