Originally Posted by Lewbronski

I’m just gonna repost this quote from Gary Kelly that has already been posted on APC. It bears repeating and reiterating:



The SWAPA virtual meeting yesterday said that the total amount of money the company would save from pilots taking a 10% pay cut is just over $200M. But $7.5 BILLION in government loans were available until a few weeks ago. The quote above explains why Gary Kelly turned the government loan down. If he had only taken $500M of the $7.5 BILLION that he turned down to protect bankers and his buddies, he would have more than covered a 10% pay cut for all employees.

But, INVESTMENT BANKERS AND EXECUTIVE PAYOUTS ARE MORE IMPORTANT THAN EMPLOYEES AT SWA. Yes, I shouted that because it can’t be forgotten.

Finally, I think most of us realize this, but Gary Kelly’s not taking a salary for all of 2021 is no sacrifice. SWAPA explained that last year Kelly earned just shy of $800K in salary as SWA CEO, but earned approximately $8M in stock-based income. He’ll still be earning his stock income in 2021. Also, SWAPA stated that his compensation package includes a pledge to make him whole for situations where he loses salary, like him “giving up” his salary next year. He’s gonna be made whole. He’s not losing that salary.